Gan-owned igaming and sports gambling brand Coolbet announced today that it will be closing down the Ontario regulated market on 3 April after one year of operation.
According to the Estonia-based company, Coolbet plans to stop all deposit options for Coolbet accounts starting 21 March. Coolbet advised users who have low balances to use their gaming services or top up to withdraw all funds.
This is because the minimum funds deposit amount will be CA$1 for Interac users and CA$0.01 to Trustly users.
Coolbet sent a message to its customers stating that it strongly recommends that you withdraw your funds as soon possible. Coolbet advised that if you have never made any withdrawals, you will need to verify your bank account to be able to withdraw the balance. For further instructions, please check your email after you request the withdrawal.
The company announced that it would close its casino and sportsbook at the end of the next day, 22 March. Coolbet will cancel any bets that are not settled by the deadline, as the outcome of the bet is still uncertain.
Coolbet announced that their website and mobile apps would be down starting at midnight on Wednesday, 3 April. Any balances are requested to contact Coolbet via the support email.
GAN buys the business
GAN , an igaming solutions provider, purchased the business in January 2021 for $175.9m cash and stock.