Online casino operator in India suffers loss of Rs. 5 Crore due to error in legal agreement; fires CEO


Online casino operator Europa Casino recently launched online casino operations in India.

However, the company landed in trouble after Europa Casino’s CEO in India, Thomas Gibbs, mistakenly goofed up in legal agreement relating to gambling.

This lead to loss of Rupees 5 Crore to the company on its inaugural week.

Vishal Doshi, from Banaglore discovered the loophole and explained that, “Europa Casino’s new promotional campaign for new customers in India was supposed to give up to 7000 Indian rupees (INR) free credits to all new customers who deposited at least 1000 INR to their account. Unfortunately for them, they had a typo in the agreement where the campaign had 7000 INR instead of the intended 1000 INR bonus so each new customer can get up to 7000 Indian rupees of free credits after depositing at least 1000 INR to their account”, reported Finance Times.

Now people are exploiting this loophole and are making themselves rich. The correction in the policy would require at-least 7 days notice according to laws in India. Till then, the company cannot do anything.

Gibbs was fired immediately after the loophole was discovered.