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The UK gambling regulatory body revealed that it has decided to impose an interim suspension on the operating licence of the sports betting and online gambling company Stakers Limited. The UK Gambling Commission (UKGC) cited a number of compliance issues in the reasoning of its decision for the licence suspension.
The watchdog revealed that it has commenced a probe under section 116 of the Gambling Act 2005. Also, the Commission has decided to suspend Stakers Limited’s operating licence No 000-050185-R-328112-006, which is a combined remote operating licence for real event and virtual betting casino, whilst the investigation takes place.
As mentioned above, the major gambling regulatory body of the UK cited some compliance issues for its decision. The UKGC revealed it suspects that Stakers Limited has violated a condition of its operating licence under section 116(2)(a) of the Gambling Act 2005. Because of the alleged breach, the company is considered unsuitable to continue offering the licensed activities under the same Gambling Act’s section 116(2)(i).
The above-mentioned reasons were considered serious enough by the UKGC to suspend the operating licence of the online gambling company with immediate effect until the review is brought to an end. The licence suspension came into effect on March 4th, 2020 and makes it illegal for Stakers Limited to offer its gambling services to UK customers via its website stakers.com.
Stakers’ Licence Suspension Comes as the Latest Regulatory Action in the UK Gambling Sector
The UKGC has recommended British customers to check for view the gambling company’s terms and conditions for more details. The gambling regulatory body has also shared that it has instructed Stakers Limited to make it easier for users to access their accounts with the operator and allow them to withdraw funds. The company is also required to cease taking any bets through its stakers.com website for the time being.
This has been the second case of a gambling operating licence suspension from the UKGC in a couple of weeks only. Last month, the UK Gambling Commission announced its decision to suspend the licence of the Gibraltar-based company Addison Global Limited. As a result of the watchdog’s actions, the operator is not able to legally offer gaming and betting services to local customers.
The Commission carried out the review of Addison Global Limited’s operations under the 2005 Gambling Act’s sections 116 and 118, with the regulator once again citing suspicions of licensing conditions breach as the main reason for the gambling company’s licence suspension under the Act’ section 120(1)(b). The licence suspension of the gambling company in the UK followed a similar action against the operator in Gibraltar, where it was also stripped of its operating licence only a day earlier.
The gambling operating licence suspensions have come as part of the latest efforts of the UKGC to better control the sector and guarantee safe and transparent gambling industry for all customers.
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