PSG or Paris Saint-Germain is one of the leading football clubs globally. It has filed the bankruptcy of AK Global N.V. A Curaçao-based company operates within the island’s gambling sector. The move stems from the previous collaboration of PSG with Cbet. It is an online gambling platform owned by AK Global N.V., which served as the regional partner in Latin America of the club in 2022.
The collaboration, initially announced as a lucrative deal, has been overshadowed by financial and legal troubles. Spain’s gambling authority, Dirección General de Ordenación del Juego (DGOJ), fined AK Global N.V. €5 million. This is for operating without a valid license. The bankruptcy filing of PSG seems like to be an effort to recover unpaid sponsorship fees from the deal.
Cbet operated under a sublicensing deal connected to Curaçao’s Gaming Services Provider. It is one of the master license holders of the island. Yet, the master license expired last August 18 of this year. This effectively leaves Cbet without a valid gambling license.
Raising questions about compliance within the gambling industry in Curaçao, this regulatory lapse has added to the controversy. The Joint Court of Justice in Curaçao will hear the bankruptcy case on January 22.
This debate highlights the risks for sports organizations collaborating with gambling firms, and also reignites concerns over the reputation of Curaçao as a hub for the gambling industry. The island has faced increasing pressure to reform its regulatory framework and addresses issues of transparency and oversight, known for its master license system.
The exact details of PSG’s financial claims remain undisclosed. Nevertheless, the case underscores the broader challenges facing the gambling sector of Curaçao, which is already under international inspection for compliance and governance.
