written and last updated by
Sam Smith at
13 Jan 2020
Journalist, Editorial Department
Online gambling operator LeoVegas has announced the closure of its Royal Panda online casino in the UK. Company representatives stated that the decision was made due to the site's unprofitability in the region.
The casino will cease operations in the country on January 31, 2020. As of January 8, the operator has stopped accepting new account registrations from British users, and starting January 20, UK players will no longer be able to deposit funds or place bets on sports.
LeoVegas CEO Gustaf Hagman explained that the decision was influenced by the financial results of 2019. He noted that while the UK is generally a profitable market for the company, Royal Panda has been underperforming compared to its results in other countries.
All unused funds from player accounts will be returned through available withdrawal methods. The operator has promised to notify users via email about the need to close their accounts. Any funds that remain unclaimed after a year will be donated to the charity BeGambleAware.
Royal Panda has been operating since 2014 and holds licenses from Malta and the UK, targeting European gamblers. LeoVegas acquired the site in October 2017 for €60 million, meaning the casino has operated in the UK under LeoVegas for just over two years.
