666BET owner placed in liquidation
Joint liquidators brought in to wind up Metro Play as deadline approaches for customers and third-parties still owed money
The owner of 666BET – the operator whose founding director was at the centre of a money laundering and tax evasion scandal earlier this year – is to be compulsorily wound-up as uncertainty lingers over the firm’s ongonig customer payment issues.
A spokesperson for KPMG, which has been appointed as one of Metro Play’s joint liquidators, told eGaming Review this morning that it is currently reviewing Metro Play’s assets and liabilities and will have a clearer picture by the end of the month.
KPMG’s David Standish, who has been appointed alongside KPMG Channel Islands’ Linda Johnson, said securing money owed to customers was a priority and urged customers who believe they are owed to contact the joint administrators as soon as possible.
Metro Play was acquired by 666BET in September 2014 and both brands subsequently operated under the former’s UK and Alderney licences before 666BET director Paul Bell was arrested on suspicion of money laundering and tax evasion in March.
Its licences were swiftly suspended as both regulators cited “serious concerns” about the “control and management” of the firm.
Great Britain’s Gambling Commission confirmed last week that a winding up order had been issued by the Court of Alderney on 2 July, and that as per the Commission’s rules, Metro Play’s licence has now lapsed.
However, the Commission admitted that it did not know “whether this development will have any impact on the payment of outstanding balances to customers”.
According to a notice published in the Alderney Official Gazette, customers have until 7 August to lodge a claim.
“We are working closely with the relevant gaming authorities both in the UK and the Channel Islands as we conduct our preliminary investigations,” Standish said.
“Our priorities are to secure client monies, collate and examine the company’s books and records, and determine any further lines of enquiry. We encourage creditors to register their claims with us and also provide any relevant information they have which may assist our enquiries,” he added.
In May Metro Play refunded a “significant number” of player accounts, according to the Gambling Commission, but these payments halted abruptly at the end of the month when the operator admitted it was having to raise additional funding in order to meet its debts.