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Company admits inability to pay following gaming license suspension
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PricewaterhouseCoopers brought on as liquidator
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Current fears not enough money to pay customers
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Addison Global’s MoPlay brand has been shuttered and declared insolvent after the UK suspended its gaming license for breach of contract.
The company, founded by a former William Hill executive in 2017, has ceased all payouts since the suspension.
The following message was posted to the MoPlay website:
“Due to financial difficulties, we are unable to process withdrawals,” a message on the MoPlay website said. “We draw your attention to clause 9 of our terms and conditions which refers to the status of funds in the event of insolvency.”
Clause 9 of MoPlay’s terms and conditions added: “Funds will be held separate from company funds in a mixture of bank accounts and reserve funds which we hold with our payment processors. However, if there was ever a situation where we became insolvent, your funds would not be considered separate to the other company assets and you may not receive all your funds back.”
CalvinAyre.com reports that MoPlay's parent company may be flogging its customer database in the hope of garnering enough money to reunite those customers with at least some of their account deposits.
While of PricewaterhouseCoopers Gibraltar had been appointed the Provisional Liquidator of Addison Global by order of the Supreme Court of Gibraltar, the CalvinAyre website warns that debts owed to rank-and-file customers may yet go unpaid based on the rumored liabilities.
- Aaron Goldstein, Gambling911.com
