Click to listen highlighted text!

Genesis World enters insolvency, lays off all workers.

Genesis World enters insolvency, lays off all workers.

Nervous igaming operator Genesis World has laid off all of its workers, telling them it could perchance perchance also simply now not be in a region to pay their December wages, and begun insolvency court cases, agreeable two days before Christmas.

As reported by the Times of Malta, Genesis World sent a letter to all of its 140 workers on 23 December, informing them that they’ll be made redundant.

“Earlier this week, the firm initiated court cases in the courts of Malta to be declared insolvent,” the letter acknowledged. “As a , this has unfortunately resulted on your set up of residing being declared redundant.”

The letter added that “the firm might perchance also simply now not be in a region to pay all of any of the dues which shall be as a consequence of you in phrases of legislation”. This, it acknowledged, incorporated December salaries moreover to stare pay.

“We are at display attempting our greatest to search out a formulation to this pain,” Genesis acknowledged.

The letter added that Genesis used to be working with “the authorities concerned” to “acquire different alternate suggestions” that will perchance perchance allow workers to be paid.

Genesis World CEO departure and UK exit

The announcement comes rapidly after Genesis World chief executive Ariel Reem departed as the business presented its exit from the UK gambling market.

Reem did now not speak the explanations for his departure on the time.

“It’s time to budge on to the following scenario/crawl,” Reem acknowledged in a LinkedIn put up. “Easy how to summarise eight years when building it from scratch? Over the years I seen how suggestions had been changed into actuality and how inconceivable or extremely onerous responsibilities had been overcome with perseverance and passion.”

Genesis World beforehand had its UK licence suspended in 2020, though this used to be later reinstated.

Click to listen highlighted text!