It has been an interesting couple of years for casinos, both online and offline, but there are signs of clear skies ahead with numbers for brick-and-mortar hitting new highs and many online casinos having posted great numbers throughout that same period of time too. It isn’t good news for all, however, as the large amount of regulation change within the UK in particular has seen some operators struggle, particularly where large fines can be handed out quite easily – and this is causing a prominent name in the UK to check-out and prompt a sale for a sizable list of players too.
The BGO online casino first opened nine years ago but following the decision to give up its license last month, in a statement “It is with regret that BGO surrendered its license after nine successful years. But it was the right decision to protect the players, staff, and affiliate partners from a potential default” along with a smaller statement that it made little sense to continue operating in a regulated market with fines that are inconsistent and not weighed against the size of the operation.
BGO has been the target of a number of big fines over the years with the most recent coming last month after being accused of violating consumer protection regulations, and with the UKGC being willing to hand out huge fines at smaller infractions, BGO may not be the last of the big operators to leave despite the huge revenue possibilities that come from the market, particularly with the huge swath of mandatory changes that have been put into place over the past couple of years with the initial credit card ban, recent changes to big games like slots, and the possibility for upcoming advertising changes too.
With a customer list that is reportedly 430,000 strong that led to almost £300 million in revenue over ten years and some great customer reviews along that journey too, it’ll be a great purchase for any willing buyer looking to shed out a little extra cash to grow a customer list with willing players too – whilst it’s almost certain that not all will stick around after the change, a sizeable number will. The UKGC have also stated that there is a plan to improve oversight to prevent big names like BGO from leaving because of unfair fines after coming under fire for a number of reasons, but with regulation set to continue increasing in coming years too with a goal for ‘fair gambling’ across the UK, there are still a lot of question marks to what form that could really take.