ukgc suspends stakers licence over compliance concerns

ukgc suspends stakers licence over compliance concerns

by 05.03.2020 0 comments

Citing ‘a number of compliance issues’, the UK Gambling Commission (UKGC) has imposed an interim suspension on the licence of igaming and sports betting operator Stakers.

Enforcing sections 116 and 118 of the Gambling Act 2005, the UKGC confirmed that it had ‘commenced a review’ into the Switzerland-based operator, suspending its licence while the review takes place.

As a result of the suspension, which is effective immediately, Stakers is no longer permitted to offer gambling services via its stakers.com website in the UK. 

The operator has also been instructed by the UKGC to ensure that it supports customers accessing their accounts to withdraw funds and to advise players not to place any bets through the website.

In a statement on its website, the regulator said: “We suspect that Stakers Limited has breached a condition of the licence (section 116(2)(a) of the Act)) and is unsuitable to carry on the licensed activities (section 116(2)(c)(i)) of the Act). We, therefore, consider it appropriate to suspend the licence with immediate effect pending the conclusion of the review.”

In February, the UKGC suspended Addison Global’s operating licence after the regulator suspected ‘that Addison Global Limited has breached a condition of the licence (section 120(1)(b) and is unsuitable to carry on the licensed activities (section 120(1)(d) of the Act)’.

Under the terms of the suspension, Addison Global was prohibited from offering gambling services via its now insolvent moplay.co.uk brand to customers across the UK.

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