Bankrupt and expanding

The sponsor of Barcelona and Paris Saint-Germain, 1XBet, was declared bankrupt this week. But the bookmaker is still signing new deals with several actors in international football.

By Steve Menary

One of football’s biggest betting sponsors has been confirmed as bankrupt by the Dutch Supreme Court in the Netherlands. 1XCorp, the owner of controversial Russian bookmaker 1XBet, was declared bankrupt by a court in Curacao, as Josimar revealed last June, for not paying bettors but appealed to the Supreme Court in the Hague, which is the highest form of legal recourse on the Dutch Caribbean Island.

In a ruling this week, the Supreme Court said: “The Supreme Court has assessed the complaints about the court's verdict. The outcome of this is that these complaints cannot lead to the annulment of that judgment. The Supreme Court rejected the appeal.”

Pay up!
The bankruptcy follows a case brought by the Foundation for Representation of Victims of Online Gaming (SBGOK), which represents customers claiming to be owed 1.6 million Netherlands Antilles Guilders (roughly 830,000 euro) in winnings. A second case in Russia launched by Moscow-based lawyers Parlan in 2021 represents more than 200 customers who claim they are owed money by 1XBet, which has lost its licence to operate in Russia. Three exiled Russians living in Cyprus – Roman Semiokhin, Dmitry Kazorin and Sergey Karshkov – are widely believed to be behind the company’s operations and wanted by the Russian state. A Russian court nullified 889 million euro worth of transactions by 1X...

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