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Hope On The Horizon For MoPlay’s Customer Funds

As we reported last week, MoPlay closed it’s doors with immediate effect after parent company Addison Global had it’s license revoked by Gibraltar’s gambling authority and shortly after, the UKGC followed suit.

Unable To Withdraw Funds

Unfortunately, some customers were unable to withdraw their funds after the company released a statement suggesting they had some financial difficulties, due to this they were unable to process withdrawals. Customers were unsettled by the news they could not withdraw their funds, further more, the terms on MoPlay’s site stated ‘user funds were not protected incase of insolvency’.A glimmer of hope has risen as MoPlay have released an update on their website stating,‘Edgar Lavarello of PricewaterhouseCoopers Limited Gibraltar was appointed as liquidator of MoPlay’s parent organisation on February 25th 2020 by the supreme court of Gibraltar’.

Exploring Possibilites

They went on to say, all MoPlay’s activities have been suspended resulting in customers not been able to access or withdraw money from their accounts, ‘we are presently exploring possibilities to resolve this situation by seeking to enter into arrangements with the aim at safeguarding the customers balances. We thank you for your patience and we confirm that we will make another statement to all our customers as soon as there are any developments on which we can update you’.The statement comes in line with the UKGC’s demand for all operators to supply updated information for their customers and the level of protection they provide for their users. The UKGC currently have three levels of protection, these are not protected, medium and high.One suggestion from analysts would be for MoPlay to sell its database to raise funds, with Star Sports showing an interest in buying the assets.We will keep you updated as and when more information becomes available.

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