The tried to collect money from the casinos to pay their affiliates and the casinos told them "You're self excluded at another of our properties..."
Seriously, administration means the company is not trading at a profit and cannot meet the demands of creditors. Therefore following due process they announce this and outside administrators take over the day to day running and see what they can salvage, or if the company can be restructured so it can continue trading. Basically means like Purple Lounge the owners have either been useless or skimmed off money to make it insolvent knowing that if they are a limited company they'll never pay it back.
I don't doubt the people behind it will be back again soon with a different company name....