Money Factory and CoinFrenzy Announce Sweepstakes Casino Closures

Money Factory has shut down immediately while CoinFrenzy plans to close on September 25, adding two more exits to a difficult year for US sweepstakes casinos. Money Factory stopped registrations, purchases and gameplay on August 9.

Good to Know

• Money Factory closed on August 9 with player records and pending redemptions still on file.
• CoinFrenzy has stopped coin purchases but will allow gameplay and redemptions until its September 25 closure.
• VGW will separately close LuckyLand Slots on September 14.

Money Factory Closure Leaves Redemption Questions

Money Factory took the more abrupt route. Players can no longer log in, buy coins or play after the operator permanently ceased operations on August 9. Its website says account balances and outstanding redemption requests have been preserved.

The company said:

“All player accounts, balances, and pending redemption requests have been recorded and preserved. Players with pending requests do not need to take any action — your request and your account records are on file.”

However, Money Factory has not provided a public timetable for completing those pending redemptions. Its closure page also invites enquiries about acquiring company assets, adding another unanswered question around the wind down.

CoinFrenzy is giving customers more time. The sweepstakes casino has disabled new coin purchases while keeping games and prize redemptions available ahead of a full September 25 shutdown.

The two departures follow the planned closure of VGW brand LuckyLand Slots. Gold Coin purchases there ended August 3, gameplay stops August 24 and final redemption requests must be submitted by September 14.

State regulation provides important context for the wider retreat. Indiana prohibited online sweepstakes casinos from July 1, while Maine also adopted a ban that took effect during July. Operators have responded by restricting access or leaving affected markets.

Sweepstakes casinos generally use separate virtual currencies for social play and prize eligibility rather than conventional cash deposits. That structure also means players do not necessarily receive the same statutory account protections available at regulated real money gambling operators.

For Money Factory customers, that distinction is particularly relevant because the platform closed before all pending redemption requests had been completed.

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