A Big Pair of Exits From the UK Market
A major announcement came earlier this week from JPJ Group letting the world know that two big casino brands will be breaking away from the United Kingdom’s regulated market. These brands are Vera&John Casino and InterCasino, both of which are iconic names in the industry in general.
These exits are so big in part because every indication was that they were happy with operating in the UK.
There are a lot of questions behind why this is happening, and it’ll be interesting to see what kind of answers we get, if any, as the move happens.
With all of that being said, players are being given plenty of time to migrate to other sites if they are from the United Kingdom, and players who are located in other jurisdictions will most likely not be affected very much, if at all.
This Announcement Comes as a Surprise
There is some information that came out earlier this year after the first quarter that makes this news particularly mind boggling. JPJ Group’s quarterly financial report came out and noted that Vera&John Casino in particular had performed extremely well. In fact, they were cited as the main reason that the company as a whole saw a year-on-year increase in revenue of 13 percent.
Furthermore, Vera&John Casino had an increase of 62 percent in revenue compared to first quarter of last year, which is even more impressive.
What came after this revenue boost announcement is that they had purchased Gamesys. That includes their software platform and a number of sites they ran, including Virgin Games, Monopoly Casino and Heart Bingo. For US players, this is relevant because they are also taking control of the Virgin Casino that’s licensed to operated in New Jersey, so this deal has implications all over the globe.
Again, with all of this success, the shutting down of two iconic brands in the UK market is even more baffling.
What Players Need to Do
If you’re an active player at either of these two brands, there are some dates that you need to know:
- New players have not been allowed to sign up since August 5, 2019.
- Players can continue to play and make deposits through August 27, 2019.
- Finally, the doors will close about a week later on September 3, 2019, and withdrawals will be allowed through this time.
- They will have options in place for withdrawals from outstanding balances after this time.
In short, you still have some time to enjoy these sites while they last, but after September 3, that will be all she wrote.
Speculation on Why This is Happening
Nothing official has been announced as to why these sites are being pulled from the UK market, especially with Vera&John Casino doing so well, but there are some possibilities that are pretty interesting.
It’s worth noting that the official messages given by both of these brands were particularly vague and didn’t say much other than they would be closing down in the United Kingdom market.
Some people think that this is happening because the JPJ Group wants to limit competition against itself, but that doesn’t necessarily makes sense because they’re pulling one of their biggest brands out of there. If that was the case, it would be better for them to pull smaller brands.
Alternatively, they could be looking to re-enter the market at a later date, possibly later this year, with a new brand running with software based on what they acquired from Gamesys. Again, this is pure speculation, but it makes a lot more sense than just pulling out one of your biggest names in a given market for no reason.