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  1. #1
    casionmark is offline Private Member
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    Default Genesis exiting UK market

    Just received an email from Casino Lab:

    Casino Lab

    We regret to inform you that Genesis will cease operating in Great Britain on 6 December 2022. You will be able to log-in to your account until 30 December 2022 to withdraw any outstanding balances. Please note that the minimum amount of the withdrawal is 10 GBP. From 30 December 2022 the site will close and you will no longer be able to access your account

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  3. #2
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    Doesn't surprise me given they are months behind affiliate payments...

  4. #3
    Triple7 is offline Private Member
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    Quote Originally Posted by Dsquared View Post
    Doesn't surprise me given they are months behind affiliate payments...
    I guess they're busto.

  5. #4
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    Quote Originally Posted by Triple7 View Post
    I guess they're busto.
    That or they've gone rogue. I'm betting on the latter.

  6. #5
    freespinsnodeposit is offline Public Member
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    Sweden as well.

    Please note that Genesis Global has taken the decision to cease its trading in Sweden. Therefore, on the 7th of December, new registrations from Sweden will no longer be accepted and existing Swedish players will also no longer be able to play at any Genesis Global brand.
    Please remove all Sweden targeted marketing content from your website(s) prior to this date. Existing players have been asked to withdraw their funds before the 30th of December.
    Looks like they're withdrawing from locally regulated markets.

  7. #6
    casionmark is offline Private Member
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    More here:

    https://igamingbusiness.com/gaming/o...-as-ceo-exits/

    Sounds like things are not going well.

  8. #7
    FreeSpins is offline Public Member
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    Unofficially: they have big financial problems. They have stopped paying not only their partners, but also some of their contract employees. It looks bad.

    An open question: is this a consequence of the recent fines imposed by the UK Gambling Commission?

  9. #8
    insiderjoe is offline Private Member
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    I found an announcement on the affiliate page after login that they are exiting the Swedish market too. They are over I guess. Removing all their brands.

  10. #9
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    Quote Originally Posted by FreeSpins View Post
    An open question: is this a consequence of the recent fines imposed by the UK Gambling Commission?
    They were fined 3.8M which is a lot but ultimately that is down to mismanagement on their end. They never seemed to take compliance very seriously until they got their license suspended. It's hard to blame the fine as the reason this has happened. Plenty get fined and improve and don't end up in this situation.

  11. #10
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    Now I see that their Malta license is also suspended by the Malta Gaming Authority. We were very lucky to get paid before the Genesis brands suspension.

    https://www.mga.org.mt/suspension-of...mited-c-65325/

  12. #11
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    I'm glad I don't work with them, would be a pain in the ass to retrieve pending earnings from a company which basically doesn't exists anymore. It might be a smart move for affiliates to start organizing themselves and try to get the payments (legal procedure?).

  13. #12
    MMM
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    Quote Originally Posted by bookmakers2u View Post
    Now I see that their Malta license is also suspended by the Malta Gaming Authority. We were very lucky to get paid before the Genesis brands suspension.

    https://www.mga.org.mt/suspension-of...mited-c-65325/
    why you post the same thing on 4 threads. The license suspension is meaningless a month after the company went bankrupt.
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  14. #13
    universal4's Avatar
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    Most of the duplicate posts have been removed allowing 1 extra for news reference.

    Rick
    Universal4

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  16. #14
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    Quote Originally Posted by universal4 View Post
    Most of the duplicate posts have been removed allowing 1 extra for news reference.

    Rick
    Universal4
    There were several threads about Genesis Affiliates, and I was unsure which one was best to use. I am sorry for the duplicate.

  17. #15
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    Quote Originally Posted by MMM View Post
    The license suspension is meaningless a month after the company went bankrupt.
    I heard around Christmas that 120 staff had been dismissed, but at this stage the Malta license was still active, so this was new to me.

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