Hanzbet to Cease Operations Amid Dispute with License Holder
Brazilian online betting platform Hanzbet will be closing operations by the end of July due to a dispute with its license holder, EA Entretenimento e Esportes Ltda.
LISTEN TO THIS ARTICLE:At the heart of the issue is EA's unexpected removal of Hanzbet's founding management from its administrative and financial operations. EA had earlier informed stakeholders that Hanzbet would be shutting down by July 31, and that the site would remain active only for customers to withdraw their balances until the closure date. Other features like new registrations, deposits, and betting odds have been suspended.
However, Hanzbet founder and CMO Eduardo Peres claims that he and his team were removed from the administrative and financial structure without prior discussion, and the shutdown was announced without their participation in the decision.
Peres also alleged that EA is redirecting Hanzbet users to BateuBet, another brand under EA, through its support channel.
Peres warned that the situation with Hanzbet should serve as a cautionary tale for other operators working under similar arrangements. He vowed to pursue all legal and appropriate measures against EA's actions.
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Customers Face Withdrawal Issues
Even with contracts in place between Hanzbet and EA, Peres noted that resolving the dispute through the judicial process will be lengthy and slow. In the meantime, the company's reputation will suffer significant damage. Also, many customers are struggling to withdraw their funds. Peres claimed that this move was deliberate by the EA, which intentionally detained the company's liquidity and still informed customers that they needed to withdraw their balances before the deadline.
In a recent post on Instagram, Hanzbet suggests a possible comeback, but the path forward remains uncertain due to severed ties with its former license holder. But even if it was able to relaunch, regaining the trust of its previous customers would likely be a major challenge.
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