WILLEMSTAD - The Casbit Group, the former parent company of Lalabet, has been declared bankrupt by the Court of Curaçao. The bankruptcy was issued after the online gambling company failed to settle multiple claims, including unpaid debts to Dutch gamblers. Earlier this year, the company ceased operations in Curaçao, and the online casinos are now being run by a Costa Rican company.
On December 5, the Court of Curaçao declared the Casbit Group bankrupt after a bankruptcy petition was filed in August due to unpaid debts amounting to €619,500. These debts were owed to players who had not been compensated for their winnings. The petition was reviewed by CasinoNieuws.nl, confirming the total amount of unpaid claims.
Under Curaçao’s Bankruptcy Ordinance of 1931, companies or individuals can be declared bankrupt if they fail to meet their financial obligations. In this case, the Casbit Group's refusal to pay outstanding debts to players led the court to approve the bankruptcy filing.
Legal Action and Growing Tensions with Dutch Gamblers
The bankruptcy filing was initiated by the Stichting Belangbehartiging Gedupeerden Online Kansspelen (SBGOK), an organization representing gamblers who face issues with online casinos operating under a Curaçao license. In this instance, the foundation was supporting several Dutch gamblers who lost money while playing at Casbit Group’s online casinos. One of the affected players is still owed over €237,000 by the company.
The online casinos operated by Casbit Group, including Lalabet and JungliWin, have become popular among Dutch gamblers, as evidenced by recent Google search trends in the Netherlands. These two casinos appeared among the top rising search terms, signaling the growing reach of the group’s operations in the country. The Dutch Gambling Authority (Kansspelautoriteit) had previously confirmed that Casbit Group was actively targeting the Dutch market, leading to a fine imposed on the company for non-compliance.
Shift of Operations to Costa Rica
Following the fine, it became clear that the Casbit Group was not planning to continue operations in Curaçao. Official records from the Curaçao Chamber of Commerce confirmed the company’s dissolution. It was later revealed that the online casinos previously under the Casbit Group’s umbrella, including Lalabet and JungliWin, are now being operated by a new parent company, SkyGrow Group Limitada, based in Costa Rica.
This move marks the end of Casbit Group’s operations in Curaçao, as the company transitions to new management in Costa Rica while continuing to offer its online gaming services to international markets.
