The Gambling Commission announced on 12th February ceasing the official Stake Casino site operations in the UK market on a white label basis.
The Gambling Commission with the TGP Europe Limited started an investigation into a viral video that was being distributed on social media channels, displaying Stake’s logo.
What was featured in the video was an adult entertainment actress from Nottingham Trent University.
TGP Europe Ltd, the UK white label operator of Stake Casino confirmed the site’s shutdown by 11th March. This has added to the casino’s challenges in the United Kingdom with past fines and regulatory scrutiny.
This article will take a look at the Gambling Commission investigation, Stake’s UK exit, and concerns related to the platform’s global expansion.
Gambling Commission Investigation and Stake’s UK Exit
The Gambling Commission’s investigation follows inquiring into the widely viewed video that displayed the Stake’s branding logo, distributed it on various social media platforms, and featured an adult actress outside Nottingham Trent University.
After discussing with the Commission, TGP stated that they would stop accepting registrations on the Stake.uk.com platform. It has already been the subject of enforcement action. TGP will also remove all the redirection links from the official website and the final shutdown of the UK site will occur on or before 11 March 2025.
TGP previously faced regulatory scrutiny in the United Kingdom and was fined by the Commission in 2023 for anti-money laundering (AML) as well as social responsibility failures. According to the Gambling Commission, “When an operator leaves the British gambling market we expect an orderly closure of its website to consumers in Great Britain and this includes providing consumers with clear information on how to obtain their funds,”
The Gambling Commission also mandates an orderly exit of the Stake website and other online casinos in UK with clear fund withdrawal instructions.
Stake’s Global Expansion and Football Sponsorship Concerns
Stake Casino mentioned in one of its statement about a strategic decision made in mutual agreement with TGP Europe, shifting its focus to regulated markets and securing local licenses instead of white label deals.
After the news of the Stake UK platform’s exit came out, it followed receiving full authorization to operate in Brazil in a newly regulated market, starting from 11th February.
Brazil is one of the latest steps that Stake has put forward in its Latin American expansion which includes activities in Peru and Columbia. It is also gradually entering the European market with Italy being the first to enter in 2024.
Through the acquisition of Baldo Line and its brand, Idealbet.it, it also acquired Mocinoplay to expand into the Denmark gaming market.
Stake Casino is Everton FC’s front-of-shirt sponsor since the 2022 season. The Gambling Commission in the UK will soon contact Everton along with two other sporting clubs who have unlicensed gambling sponsors in order to warn them on the risk associated with promoting illegal websites.
The commission and UK authorities are seeking reassurance to make sure that they carry out due diligence on the sponsors. It will also request them to focus on effective geo-blocking of illegal websites in the UK.
In addition to this, the GC also warns the club officers who could face conviction and prosecution if they are proved to be promoting unlicensed betting sites available in the market for players in Great Britain.
To know more about the online casino’s legal operations and product offerings in UK and other parts of the world, visit this exclusive Stake review.
