Issues mount for insolvent Genesis Global as Spanish site remains live without staff to process withdrawals

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Problems for insolvent Genesis Global persist as the firm’s Spanish website remains live without operational support to process withdrawals.

iGaming NEXT understands that Genesis Global did not officially exit the Spanish market and that players are still able to deposit funds and play at its Genesiscasino.es brand.

The Spanish domain is operated by Genesis subsidiary Daunei Investments, which holds a licence from the Directorate General for the Regulation of Gambling (DGOJ), the Spanish gambling regulator.

According to sources who spoke to iGaming NEXT on the condition of anonymity, operational support for the Spanish site was provided from Malta, but with all staff having been made redundant, hundreds of emails are being left unanswered.

“All customer queries were handled from Malta, while KYC and withdrawals were manually processed there as well,” the source told iGaming NEXT.

No withdrawals

iGaming NEXT understands that while the Spanish site is still active and players can deposit funds and play, they currently cannot cash out their winnings.

Furthermore, regulations from the Spanish gambling regulator DGOJ state that Spanish-speaking customer support agents must be available from 8am to 5pm Monday to Friday.

This requirement has reportedly not been met since the insolvency announcement and mass lay-offs of 23 December 2022.

iGaming NEXT has reached out to Spain’s DGOJ for comment.

Moreover, iGaming NEXT has learned there are likely multiple withdrawals pending across all of Genesis’ sites, including those previously licensed in Malta, the UK and Sweden.

iGaming NEXT has also reached out to the regulators of each of those countries.

The Gambling Commission said in a statement: “We expect all gambling businesses to have plans in place, and to take all necessary steps, to make sure that consumers are not unnecessarily disadvantaged as a result of closure.”

The source reiterated: “While players have been told to contact customer support when Genesis gave up their licences, there are currently no agents working to process pending withdrawals.”

Filing claims

Meanwhile, many of the firm’s ex-employees have filed claims with Malta’s Department for Industrial and Employment Relations (DIER) and have also decided to take legal action in the Maltese courts.

Last week, Genesis employees in Poland were also informed their offices would close as staff were laid off without pay.

Several employees who were paid by Genesis Global – rather than Polish subsidiary Genesis Bluebird – have joined their former colleagues in Malta by filing claims with Malta’s DIER.

More to follow.

About the author

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Sonja Lindenberg

Sonja Lindenberg is an experienced editor and journalist, with a strong focus on business, finance, trade and investment. She holds a degree in business journalism and throughout the past two decades has covered companies and industries in various markets and for different media, including newspapers, news agencies, inflight magazines, country reports and trade publications. Sonja joined iGaming NEXT in June 2022.

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