Mansion Group announces permanent Gibraltar closure after exiting UK and Ontario

Lea Hogg 4 months ago
Mansion Group announces permanent Gibraltar closure after exiting UK and Ontario

Gibraltar-based Mansion Group has taken the decision to permanently shut down its operations, marking the end of an era for the company. This move comes nearly 10 months after the group’s exit from the UK market, which had seen a withdrawal from the sportsbook sector that focussed solely on online casinos due to increasing regulatory challenges. However, even this strategic shift could not save Mansion Group from the regulatory hurdles that have ultimately led to its closure.

Withdrawal from UK

The UK was a core market for Mansion Group for many years, with its brands operating in the country since 2006. The company initially made its presence known through a high-profile shirt sponsorship deal with Tottenham Hotspurs from 2006 to 2009. Mansion Group officially relinquished its UK operating licence, bringing its UK online gambling presence to an end. The Gibraltar-based operator decided at that time to withdraw its online casino portfolio, which included Casino.com, MansionCasino.com, and SlotsHeaven.com. This decision followed Mansion’s strategic withdrawal of its flagship sportsbook brand, MansionBet, from the UK market in 2022.

Mansion Group then redirected its efforts toward enhancing its online casino offerings in regions like Spain, Ontario and other licensed markets in emerging markets.

Despite exiting the UK market, Mansion Group operated its brands within the licence by Gibraltar’s regulatory framework.

Unresolved leadership turmoil

Mansion Group’s journey towards closure was not without its share of internal challenges. In February of this year, the former CEO, Karel Mañasco, (in photo above), made headlines when authorities in Gibraltar issued a global asset freeze order against him, amounting to £5 million, at the request of the Mansion Group. Mañasco’s suspension in September 2021 following a disciplinary investigation into alleged unauthorized payments had already raised concerns. His resignation in December of the same year, while denying the allegations, left the company in a state of leadership uncertainty.

Reasons for Gibraltar closure are uncertain

The decision to shut down the entire business has left many questions unanswered. With around 200 employees facing unemployment and concerns over the fulfillment of bonus payments, the future remains uncertain for Mansion Group’s staff. The company has not yet released any statements to explain the reasons behind its closure. As Mansion Group winds down its operations, it marks the end of an era for a company that has been licensed and headquartered in Gibraltar since 2004.

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