The site will be pulled out of the market effective January 31st, with British punters now restricted from being able to register new accounts. Current customers will be restricted from making deposits or placing sports wagers on January 20th. All operations will cease on January 31st at 9am local time. Players with bets that will take place after that date will be contacted by the casino to discuss the situation.
Royal Panda is requesting that players withdraw funds as quickly as they can, as accounts will not be able to be accessed after January 31st. Player funds will be safe though, and players with a positive balance will have funds returned to their accounts using the method that was used to deposit in the account. If player funds aren't withdrawn by January 31st, 2021, they'll be donated to GambleAware.
LeoVegas has been struggling with all of the regulatory changes in the UK, as more stringent rules along with a large amount of competition has made it more difficult to haul in customers. The company maintains that the market is still profitable, albeit not enough to justify keeping the Royal Panda brand in operation.