UK Gambling Commission Fines Stake.com Operator for $394K

The UK Gambling Commission (UKGC) has fined TGP Europe Limited, operator of several gambling brands in the UK, for a total of $394K.

TGP Europe manages 19 gambling sites operating under a White Label* solution, including the popular brand Stake.com, which was launched in the UK market in late 2021.

The fine was imposed due to violations related to social responsibility and anti-money laundering measures by TGP Europe.

One of the issues identified was allowing customers to continue gambling despite multiple warnings about their unsafe gambling behavior.

The company also failed to implement an adequate system for assessing the risks of money laundering and terrorist financing, which could allow players to use fake or stolen documents to gamble.

As a reminder, there have been suggestions of potential links between TGP Europe and Alvin Chau, the “junket king”, who was sentenced to 18 years in prison in China.

*White Label is a business solution that grants an operator access to a fully prepared gambling resource for launch.