SBC News Voice of the Sports Betting Industry
Locus Gaming senior management has issued a statement that it has placed itself into voluntary UK liquidation, having failed to secure a buyer for its services.
The Mobile casino operator had informed its customers on 10 September that it would no longer be taking bets and deposits. The operator’s website homepage informed customers that all casino services had been ceased, as Locus Gaming management looked to secure a financier for its operations.
Today Ed Andrewes CEO of Locus Gaming informed industry news source EGR Magazine that Locus Gaming management had failed to secure funding. Given the circumstances of its current operations Locus Gaming management have chosen to liquidate its assets.
Financial advisory firm Smith & Williamson have been appointed to carry out the liquidation and deal with company creditors, who have been informed of pending actions.
Ed Andrewes assured EGR Magazine that customer funds had been secured and would be paid out by Locus Gaming. Andrewes stated that the operator had carried out its cease of trade under the standard procedures set by the Isle of Man Gambling Supervision Commission.
