The Casbit Group is the previous operator of Lalabet and JungliWin online casinos. Court of Curaçao has declared it bankrupt. The financial troubles of the company stem from various unpaid debts. This includes €619,500 owed to Dutch gamblers who were unable to claim their winnings. In early 2024, after ceasing operations in Curaçao, the casinos of the group are now under the management of a Costa Rican company.
The SBGOK, or Stichting Belangbehartiging Gedupeerden Online Kansspelen, initiated the bankruptcy filing in August and secured a ruling on December 5. It is an organization that represents players with debate against Curaçao-licensed casinos. According to Curacao Chronicle, among the claimants is a Dutch gambler who remains unpaid for winnings exceeding €237,000.
The decision of the Court relied on the Bankruptcy Ordinance of 1931. This permits insolvency declarations for entities unable to meet their financial obligations. The ruling emphasizes that Casbit Group’s refusal to settle player claims warranted the bankruptcy judgment.
The operations of Casbit Group have drawn significant attention in the Netherlands. Its casinos, Lalabet and JungliWin, appeared among trending Google searches in the country. This reflects their popularity among Dutch players. The Dutch Gambling Authority or Kansspelautoriteit had recently imposed fines on the group for targeting Dutch consumers without proper compliance.
SGBOK has played a pivotal role in advocating for affected players. This foundation represents individuals impacted by offshore casinos. It has a history of pursuing bankruptcy claims against similar entities. The involvement of the organization highlights ongoing tensions between Curaçao-licensed operators and Dutch gamblers.
In the middle of growing scrutiny and financial challenges, the Casbit Group stopped its operations in Curaçao. The Curaçao Chamber of Commerce has confirmed this. Since then, ownership of Lalabet and JungliWin has been transferred to SkyGrow Group Limitada. They are based in Costa Rica.
