• Home
  • News
  • Casino
  • Exclusive: Up to 200 jobs in limbo as Mansion Group prepares to shut down
igamingnext photo
Gibraltar-headquartered Mansion Group has made the decision to permanently shut down, nearly 10 months on from exiting the UK market.

Sources close to iGaming NEXT confirmed the company is currently in the process of winding down its operations, with closure slated for the end of October.

This move is expected to leave around 200 people without a job.

Staff have already been informed of the decision, with several employees actively looking for new roles on LinkedIn.

The Mansion Group has been licensed and headquartered in Gibraltar since 2004.

The majority of Mansion’s workforce (some 150 individuals) was based in Sofia, Bulgaria, which had become the group’s primary technological and operational centre, while Gibraltar served as the acquisition and marketing hub.

The company renovated its office in Sofia as recently as last year.

Mansion is led by Chris Block, who has been chairman and group president since May 2021.

In February of this year, Karel Mañasco, the former CEO, made headlines when authorities in Gibraltar issued a global asset freeze order against him, amounting to £5m, at the request of the Mansion Group.

Mañasco joined the company in 2010 and initially took on the role of CFO in 2012, before going on to also become CEO in January 2017.

However, he was suspended in September 2021 after Mansion launched a disciplinary investigation into alleged unauthorised payments during his tenure at the company.

Mañasco resigned from the company in December of the same year, denying the allegations.

UK and Ontario exit

In January 2023, Mansion Group quit the UK market, citing increasingly challenging regulatory requirements.

Online casino was the only vertical left for the group in the UK following the closure of its MansionBet sportsbook brand back in March of 2022. 

At the time, Mansion said it had chosen to focus solely on casino due to the heightened competition and regulatory environment in the UK.

Despite this strategic shift, the group’s portfolio of casino sites ultimately succumbed to the same set of regulatory challenges.

The company also exited Ontario in January, having only entered the market a few months prior after obtaining a licence in 2022.

Despite leaving both markets, the group was still operating all casino brands, except for SlotsHeaven.com.

The reason for shutting down the entire business remains unclear. 

Some Mansion Group employees have remained with the business for many years. While some see this as a chance for a fresh start, they are also concerned their bonus payments will not be fulfilled.

iGaming NEXT has made multiple attempts to reach Mansion Group for comment.

More to follow…

If you have any further information to share on this story, please reach out to Sonja Lindenberg.

Similar posts