Here, we list online casinos that recently decided to shut down the operations. We are sad to see the following brands leave us, but hope the people involved in the sites find other more interesting jobs in the industry within short.
Most recently closed new casinos online
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See 21 Casinos that have closed down
Monday March 2, 2020
– 937 days ago –
Friday February 28, 2020
– 940 days ago –
Tuesday February 18, 2020
– 950 days ago –
Thursday December 19, 2019
– 1011 days ago –
Thursday December 19, 2019
– 1011 days ago –
Thursday June 20, 2019
– 1193 days ago –
Sunday February 10, 2019
– 1323 days ago –
Tuesday January 15, 2019
– 1349 days ago –
Saturday December 1, 2018
– 1394 days ago –
Friday October 5, 2018
– 1451 days ago –
Monday February 5, 2018
– 1693 days ago –
Friday June 30, 2017
– 1913 days ago –
Friday May 5, 2017
– 1969 days ago –
Sunday April 2, 2017
– 2002 days ago –
Monday March 6, 2017
– 2029 days ago –
Friday February 10, 2017
– 2053 days ago –
Why do some new online casinos shut down?
There can be multiple reasons why new brands close down. A couple of reasons are listed below, but are not limited to:
Sites running out of money
To run a new online casino business can be costly. You need to get a team to run the support, technical department, marketing, KYC among other things. Unless a business is putting in at least €2,000,000 – it may be hard to continue operations after a few big winners. Warning signs may be that new operators use very poor and not very memorable domain names, use a standardised design that doesn’t stand out or have lots of spelling errors. Such mistakes may indicate that the site is not funded well enough to handle professional new casino business.
Huge winners without insurance
Some new online casinos don’t have insurance for huge jackpot winnings and similar. If a player win €2-3 millions and they don’t enough backup, the operations might be at risk.
Got the wrong business idea?
Some new casinos online goes into the wrong niche from start. For a few markets, that might mean offering free spins without deposit, problem finding the right competence or technical issues. Other issues might include too much reliance of a particular white label or backend that doesn’t work or problem with tracking because of incompetence or simply dodgy behaviour.
Not good enough track of the market?
Others goes into the wrong regions that happen to change regulation and licensing. This business changes quickly and anything can happen that might force new online casinos to shut down, or at least get a license before they continue operations.
Blocked payments for grey markets
Many new casinos online face issues with too few payment methods or blocking of a certain merchant account handling VISA or MasterCard payments and withdrawls. If players cannot deposit money, the casino will disappear rather quick. Hopefully, more brands will realise the need to have a wide range of payment options, including the hottest right now – Trustly, PayPal, Bitcoin, EcoPayz, EU Teller, InPay, Interac, MuchBetter, Neteller, PayForFun, PaySafeCard, Ripple, Skrill, Sofort and Ukash, Venus Point and Zimpler.
Temporary shut downs due to platform changes
It’s not uncommon even for rather new casino sites to switch between platforms that handle game play, transactions and the whole user experience. If that’s the case, the interim close down may take anything from a couple of days up to 6 months or more. Players usually keep their login details, but in some rare cases, the casino will send out new login details after the switch.
Acquired by a competitor?
Big competitors have always thought it was a good idea to acquire smaller casino brands and either integrate all their customers into their own top brand or even use the brand name if it’s good enough. So if you previous casino was shut down, acquisition by a competing might be one possibility.
Changing name due to regulatory requirements
Several new casinos that shut down are going back live again with another name. The reason might be license requirements for new or upcoming regulations in a particular jurisdiction. For instance, while Amsterdam Casino shut down after many years in operation they opened up with a new name and less symbols associated with DAM a few months later. That way, it is clear they don’t target local customers anymore.
How can I get my money back from a closed casino?
Most of the time, the casino operator will send out an email apologising for closing down and giving players a window of 1-3 months to withdraw their money. If the funds in your casino account is not taken out by then, they may be able to legally (but unethically) take the remaining funds. However, a couple of operators do have even longer time limits to allow players to take out their funds regardless if they see it quickly or learn about it several months later.