Two more well-known sweepstakes casinos are shutting down as the industry continues to reshape itself under the microscope of scrutiny from lawmakers and regulators across the United States.
The Money Factory and CoinFrenzy informed players this week of their intentions to close off access to their sites this month and next month.
CoinFrenzy is established, but not as popular as The Money Factory — whose shutdown may be the most notable since Betty Sweeps ended operations back in January.
Vague notion of a ‘wind-down’ in The Money Factory’s message
To call the shutdown announcement from The Money Factory abrupt would be an understatement.
On Monday, players who went to themoneyfactory.com expecting to log into their accounts were greeted with a simple webpage with the following message:
NOTICE TO PLAYERS
THE MONEY FACTORY HAS CEASED OPERATIONS
After careful consideration, The Money Factory has permanently ceased operations as of August 9, 2026. No new registrations, purchases, or gameplay are being accepted.
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.
The company is conducting an orderly wind-down. Players with questions, or who wish to request a copy of their account records, may contact [email protected].
We will respond as quickly as we are able and will post further updates here as the wind-down progresses.
We are grateful to everyone who played with us.
As of Monday, there was no option to access a player’s account or their Sweeps Coin balance. The Money Factory’s message seems to suggest the operator may have a plan for these balances and unfulfilled Sweeps Coin redemption requests. Still, the lack of a clear structure or plan will likely leave many players nervous.
Interestingly, The Money Factory also appears to be open to those looking to purchase its intellectual property. Below the message to players sits this message, seemingly directed at any potential buyers:
Asset inquiries
Inquiries regarding the acquisition of company assets, including the platform software, may be directed to [email protected].
Redemptions until late September at CoinFrenzy
Meanwhile, CoinFrenzy isn’t shutting things down quite as suddenly.
This week, the operator posted this message to its homepage:
COINFRENZY IS CLOSING
Effective today, CoinFrenzy has stopped accepting new purchases. You may continue to log in to redeem your eligible balance or use your existing balance before September 25, 2026. After this date, CoinFrenzy will cease operations.
Thank you for being part of our community.
Unlike The Money Factory, CoinFrenzy still had its fully operational site live, including access to Sweeps Coin balances. The only difference was that players could not initiate any new Gold Coin currency purchases.
Permanent shutdowns? Or temporary?
Now the question becomes: Are the companies behind The Money Factory and CoinFrenzy closing shop permanently? Or are they working behind the scenes to launch a new brand — or new brands — using alternative gaming models to evade dual-currency gaming bans?
Several sweeps operators have already done that.
Kickr Games Play Ltd. is one example. After closing Kickr in March, the company returned with GetGud.win, a platform built on skill-based games rather than traditional casino-style gameplay. Because of that, its dual-currency gaming model is still legal, because it’s not used for casino-style games.
Heuston Gaming took a different approach. After shutting down Mega Frenzy, the company launched Zumba Cards several months later. Zumba Cards uses a single-currency model built around RPG-style card gaming. It’s part of a broader group of card-based gaming sites that have emerged this year, including Card Crush and Clash5. Underneath the card battle-based front of these sites is a casino-style gaming platform that mirrors a sweeps casino.
Zumba Cards, for example, uses a virtual currency called SuperCoins. Players get SuperCoins when purchasing card decks rather than buying traditional Gold Coin packages. Those SuperCoins can then be used to play casino-style games and redeemed for cash.
Miracle Studio Inc. also recently closed off its traditional dual-currency sweeps casino, Gold Treasure Casino. And there is speculation it may be working on a new brand with an alternate gaming model, as the message on its site suggests something may be brewing:
We’re taking a break.
We’re currently away and will be back with updates as soon as something changes. Thank you for your patience.
Looking into the owners of both sites
So we’ll see what happens with the companies associated with The Money Factory and CoinFrenzy.
Not much is known about Lucky Labz LLC, listed as the owner of CoinFrenzy.
The Money Factory, meanwhile, was founded by Trevor Pope alongside fellow executives Clay Johnson and Jared Pope. Those three are also the builders of a company called GammaSweep, which promotes itself as a turnkey tech stack designed to help others launch sweepstakes casinos. Perhaps they’re shifting focus toward that company.
The timing is interesting, though, as, earlier this year, Johnson claimed on LinkedIn that they had taken The Money Factory from $0 to $29 million in revenue in 20 months, with more than 525,000 customers, a 336% year-over-year growth, and positive EBITDA.
That certainly seems like a good deal of momentum, and a healthy platform.
