According to a report by the Times of Malta, Genesis Global recently sent a letter to its 140 employees on December 23rd, notifying them of their redundancy. The company has taken legal action in Malta to be declared insolvent, which unfortunately has resulted in the termination of their positions. The letter states that the company may not be able to fulfill its obligations under the law, including payment of December salaries and notice pay. Genesis is currently working to find a solution with the authorities involved to ensure employees receive their due compensation.
In addition to these developments, Genesis Global CEO Ariel Reem has recently left the company, coinciding with their decision to exit the UK gambling market. Reem has not disclosed the specific reasons for his departure but expressed his enthusiasm for new challenges and adventures in a LinkedIn post. Genesis Global had previously faced a suspension of its UK license in 2020, which was later reinstated.
