Troubled iGaming operator Genesis Gaming laid off all its 140 employees two days before Christmas, after determining it would not be able to pay them. The operator has begun insolvency proceedings.
Genesis sent a letter to all its employees notifying them of the move.
“Earlier this week, the company initiated proceedings in the courts of Malta to be declared insolvent,” the letter said, according to the Times of Malta. “As a consequence, this has unfortunately resulted in your position being declared redundant.”
The letter added that “the company may not be able to pay all or any of the dues that are due to you in terms of law,” including December salaries.
“We are currently trying our best to find a solution to this issue,” Genesis said.
The letter added that Genesis was working with “the authorities concerned” to “find alternative solutions” that would allow employees to be paid.
Genesis Global previously had its U.K. license suspended in 2020, though this was later reinstated.
