Cryptocurrency iGaming brand BC.GAME is undergoing significant changes as it refines its global compliance strategy. Its legal counsel told AGB its new strategy amongst mounting difficulties.
In an exclusive interview with Asia Gaming Brief, Jefferson Ha, Senior Legal Counsel at BC.GAME, shared insights on recent challenges the company faced, including its departure from Curacao, and its ambitious plans for future expansion.
Once considered a haven for gaming operators, Curacao has faced numerous challenges and growing criticism in recent times. BC.GAME, which obtained a sub-license under Curacao’s master licensing system in 2022, recently decided to withdraw from the jurisdiction. Ha described the environment as increasingly “operator-unfriendly,” citing regulatory uncertainty, procedural flaws, and the antiquated 1931 Bankruptcy Decree as key obstacles.
“Our experience in Curacao highlighted significant inconsistencies in the regulatory and legal process,” he explained. Despite winning an initial court case primarily related to a number of widely reported player disputes, BC.GAME faced bankruptcy following it, and before it could appeal the decision. The court ruled against the company, based on claims that Ha deems frivolous, including one involving an unverified fine from Spanish authorities.
“The regulatory system doesn’t reflect modern industry standards, making it difficult for operators to thrive,” indicated the legal expert.
BC.GAME’s decision to leave Curacao aligns with its broader strategy to focus on jurisdictions with robust compliance frameworks. “We’ve decided to move forward with jurisdictions that prioritize transparency and operational stability,” he added.
While most people will see BC.GAME as one of the new breed of pre-regulated market operators that have come to significant prominence in recent times, the company’s future plans are better described as aligning with the “Entain Model”, where the long term view focuses on regulated markets. Aside from having licenses in Mexico and Anjouan, the company is in the final stages of obtaining further licenses in other jurisdictions, such as Vanuatu, Tobique and Brazil, with plans to expand further into emerging markets such as Peru.
“We’re aligning our strategy with jurisdictions that offer modern compliance mechanisms,” Ha stated. “This ensures the safety and reliability of our platform while maintaining our commitment to user satisfaction.”
The company’s plans include launching innovative solutions, enhancing its presence in regulated markets, and pursuing local licenses in key regions. BC.GAME aims to transition from being a pre-regulated market operator – a status that has seen it become the target of public criticism and media investigations – to becoming a leader in the regulated gaming space.
Compliance remains at the core of BC.GAME’s strategy, indicates the legal counsel. The company continues to grow its compliance department and has implemented systems to monitor player behavior, aiming to identify and mitigate problem gambling. However, Ha acknowledged the challenges of responsible gaming in an online environment.
“Unlike land-based casinos, online platforms have unique challenges in monitoring player behavior,” he noted. “We’re constantly looking for ways to improve and align with best practices in player protection.”
This approach is part of BC.GAME’s effort to build a sustainable gaming ecosystem. “We are aware of our responsibilities towards players,” Ha emphasized. “Responsible gaming is about making the industry sustainable for everyone involved.”
Amid media speculation about its financial stability and operational integrity, BC.GAME is taking steps to set the record straight. Ha confirmed that the company’s financial position is secure, and its global operations remain unaffected by the Curacao exit. “There’s a lot of misinformation out there,” he said. “We are financially healthy and committed to fulfilling all obligations.”
BC.GAME is also working closely with its various partners to manage its public image. “Our sponsorship partners have been incredibly supportive,” Ha shared. “We’re focused on maintaining transparency and addressing any concerns.”
“Our goal is to provide a secure and enjoyable gaming experience for our users,” he concluded. “We’re embracing change and aligning with the evolving expectations of the gaming industry.”
BC.GAME appears to be a prime example of the current trend of “Portfolio Operators”, where gaming companies move away from holding just one license to cover all operations, and instead obtain a number of pre-regulated market and local licenses to cater for their various target markets, regulatory requirements, and corporate risk appetite. This operating model is becoming increasingly common as pre-regulated markets disappear and countries introduce their own frameworks in pursuit of increased tax earnings.
Having the flexibility of using pre-regulated market licenses, while also obtaining local licenses where required, should align the operator well in a landscape that is inevitably moving towards more regulation.
