Bankrupt MoPlay’s parent company, Addison Global, is currently flogging its customer database in the hope of gaining enough money to bring some customers with at least some of their account deposits together from the defunct online gambling site.
Addison Global Ltd had its gaming licences revoked by regulators in Gibraltar and the United Kingdom on February 19 after a key investor withdrew his financial support, seemingly leaving the company without the means to carry on operations.
Originally MoPlay customers were told the site was no longer taking any new wagers, but days later they were greeted with a message that “due to financial difficulties, we are unable to process withdrawals.”
The message ominously warned customers in case of insolvency to test their T&C’s as to the fate of their funds. The relevant provision warned customers that “your funds would not be considered separate to the other company assets and you may not receive all your funds back.” MoPlay has since notified customers that, by order of the Gibraltar Supreme Court, Edgar Lavarello of PricewaterhouseCoopers Gibraltar was named Provisional Liquidator of Addison Global on February 25.
This latest message went on to say that the company was “presently exploring possibilities to resolve this situation by seeking to enter into arrangements with the aim of safeguarding the customer balances.” The company said it would keep customers in the loop with regard to any changes.
On Tuesday, eGaming Review reported that Addison Global’s liquidators were looking to flog the player database of the company to raise cash to pay off its debts–while debts owed to rank-and-file customers may still go unpaid given the rumours floating around about the company’s liabilities.
Racing Post reported that UK bookmaker Star Sports was thought to be sniffing around the Addison database amongst the companies. Whoever emerges from this scrum with the database between their teeth— if someone actually bites— it remains to be seen whether they would be willing to make customers of MoPlay whole.