Global online gambling operator Stake will exit the UK market next month as its UK platform, operated under a white-label agreement with TGP Europe Limited, prepares to shut down. The decision follows an investigation launched by the UK Gambling Commission (UKGC) into a social media video featuring Stake’s branding alongside an adult entertainment actress outside Nottingham Trent University.
TGP Europe, the Isle of Man-based company that manages Stake’s UK operations, has confirmed that new registrations on the platform have been halted, and all links redirecting to the main Stake website will be removed. The complete closure of the UK-facing site is scheduled for March 11.
The regulatory scrutiny comes after TGP Europe was previously fined £316,250 ($393,951) by the UKGC in April 2023 for failing to meet anti-money laundering (AML) and social responsibility requirements. The Commission has shared its expectation for an “orderly closure” of Stake’s operations in the UK, ensuring customers receive clear guidance on retrieving their funds.
In response to the exit, Stake issued a statement highlighting a shift in strategy: “Stake has made a strategic decision in mutual agreement with TGP Europe to exit white-label agreements and focus on securing local licenses through its in-house platform and operations.” The company noted that this approach aligns with its recent expansion efforts in regulated markets including Italy and Brazil.
Stake has been the primary shirt sponsor for Everton Football Club since the 2022-23 season. The UKGC has now contacted Everton and two other clubs with unlicensed betting sponsors, urging them to demonstrate that they have performed due diligence on their partnerships.
The Commission is seeking assurances that these clubs have ensured geo-blocking measures are in place to prevent UK users from accessing unlicensed gambling sites. It has warned that failure to comply with these regulatory expectations could lead to legal consequences for club officials, including prosecution and potential criminal convictions.
While withdrawing from the UK, Stake continues to grow in other markets. The company recently secured full regulatory approval in Brazil, a key milestone in its broader Latin American expansion strategy, which includes ventures in Colombia and Peru. In Europe, Stake has also gained a foothold in Italy through its acquisition of Baldo Line and the Idealbet.it brand, while expanding into Denmark via the acquisition of MocinoPlay.
