Locus Gaming to enter voluntary liquidation

Mobile casino operator Locus Gaming is placing its UK arm into voluntary liquidation after the firm failed to find a buyer for the group, eGaming Review can reveal.

Financial advisory firm Smith & Williamson has been instructed to act as liquidisers for a company which a fortnight ago was forced to suspend operations after a planned sale of the business fell at the final hurdle.

Creditors have been informed of the pending liquidation with a meeting scheduled to take place on 29 September.

The company had been hopeful of finding an alternative buyer for the entire business in recent weeks, however, with no sale materialising, the company has since been split with directors hopeful of agreeing a deal for its Isle of Man-registered assets.

The UK arm of Locus Gaming consists predominantly of its marketing, product development and customer service teams with around eight staff thought to be affected by the decision to wind-down.

However, the Isle of Man assets include its customer database, brand and IP rights, including that of its flagship casino brand Jack Gold.

“It’s disappointing we have been unable to keep the group together,” Ed Andrewes, Locus Gaming CEO, told eGR this morning. “Unfortunately we were unable to find anybody willing to buy the whole business so we are now in the process of winding-up the UK company,” he added.

Andrewes also made clear there was “no issue with customer funds”, having explained that they had been segregated as part of the conditions of its Isle of Man licence.

Locus Gaming was established in 2012 and last year was shortlisted for the Best Mobile Casino award at the eGR Operator Awards.