The Ligue 1 football club signed a Latin American regional sponsorship deal with Cbet in December 2022 in a one season contract deal.
Despite the deal having expired and PSG no longer listing the operator among its sponsors, Cbet continues to claim it is a partner on social media and on its gambling site.
Cbet continues to list PSG as partner
NEXT.io has reached out to PSG for comment and for confirmation the operator is no longer an official partner.
Among other issues Cbet has reportedly failed to pay a €5m enforcement penalty from the Spanish DGOJ gaming regulator.
The existence of the bankruptcy proceedings was first reported in local media and the matter was confirmed through NEXT.io sources.
Cbet was previously authorised to offer gambling services through a sub-licence with master licence holder Gaming Services Provider.
However, due to the ongoing reforms of the island’s gambling sector, Gaming Services Provider’s licence expired in August 2024, leaving AK Global NV without any valid permit at all.
Cbet, which NEXT.io has confirmed is not geoblocked in France or the UK, now no longer displays any gambling licence at all on its website.Cbet case follows BC.Game ruling
The bankruptcy case follows a similar story earlier in the month involving crypto casino and Leicester City FC shirt sponsor BC.Game being declared bankrupt due to it failing to pay its liabilities.
These included, according to court documents seen by NEXT.io, unpaid player claims and another 2022 Spanish government penalty.
In the aftermath of the bankruptcy, BC.Game closed its UK TGP Europe-licensed site, and the Curaçao Gaming Control Board (GCB) sent a letter giving notice of its intention to revoke the licence.
The business’ current licence, which its flagship offshore crypto casino trades under, is a provisional permit granted earlier in the year.
These permits have come under fire recently, despite the Curaçao gaming regulator’s strong denial of all allegations against it and its emphasis on the probity of the legal proceedings.
BC.Game met with regulators last Friday (29 November) to make its case, with sources noting the final decision is due to be announced at the end of the week.
Leicester City FC has defended its shirt sponsor in a statement, highlighting the administrational nature of the decision.
NEXT.io understands the operator is currently in the process of applying for a new gaming licence on the South Pacific island of Vanuatu.
