Payments from Genesis Global Limited

[Takemoney201]

Hello everyone,

I wanted to reach out to the community here on Casinomeister regarding a concern I have regarding player payments from Genesis Global Limited.

As many of you may be aware, Genesis Global Limited recently had its authorization revoked by the Malta Gaming Authority due to undisclosed breaches of gaming regulations. This has understandably caused some uncertainty among players, myself included.

According to reports, all outstanding payments to players are supposed to be refunded within seven days of the cease order's issue date, with evidence of compliance provided to the MGA. However, I still have a small cashout pending, and despite reaching out to the MGA, I haven't received any response.

I was wondering if anyone in the community has information about the payment procedure or has had any recent experiences with receiving payments from Genesis Global Limited casinos. Any insights or updates would be greatly appreciated.

Thank you in advance for any assistance or information you can provide.

 

[dunover]

They fucked over the affiliates and simply disappeared without contact nor paying them and they won't get paid ever. As for players, in theory you should get paid via 'player funds protection' which has varying levels in UKGC sites which they were, I don't know if they have been paid yet or not.

You are talking the MGA license which I strongly suspect won't have the protections provided by the UKGC so don't know what their protection involves and processes to pay players all or some of their balance. I would hazard a guess the pot is empty.

 

[Takemoney201]

Small update from the MGA:

" Please be informed that the company in question is currently undergoing liquidation proceedings before the Maltese Courts. In light of this, kindly direct your inquiries to the Official Receiver at the Malta Business Registry who is the appointed liquidator in the case at hand and is currently responsible for the administration and distribution of the player funds held by the company. "

 

[jasonuk]

Some things don't change, they received a three month UKGC suspension in 2020 for serious failures - and a

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.

I'm slightly confused why this is happening now -

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and their MGA license was suspended in January 2023 (and had apparently already withdrawn from UK markets shortly before). It seems like this is the final phase where the license is formally cancelled.

If the money had been ringfenced, I would have thought the withdrawal phase would be triggered when the license is suspended - which was 16 months ago. Unfortunately, if that hasn't happened - any money left in the main pot has long gone by this point, and so you may not be getting anything.

 

[maxd]

FWIW from the player complaints point of view the January 2023 timeframe seems to have been when Genesis dropped off a cliff. Up until roughly that point there were people in the organisation helping get player issues resolved: it wasn't stellar service but it was some service and that did help a handful of players get paid. In or around early 2023 that evaporated and it's been a no-man's-land since.

- Max