Internet betting group Stride Gaming has set aside £4 million to pay a fine that it expects to be handed down by the UK Gambling Commission.
The announcement was made in Stride's latest trading update, revealing that one of their subsidiaries was operating in the UK but circumventing some of the laws that it was obligated to abide by. The company said that this is due to a "backdrop of more challenging trading conditions", while also stating that the company was "implementing further measures to ensure that Stride continues to maintain high standards in the provision of responsible gaming."
The potential fine would be one of the largest in the UKGC's history, coming after 888 Holdings was fined £7.8 million and the £6.2 million penalty paid by William Hill.
It's thought that one of Stride's subsidiary betting sites was found to be out of compliance in regards to the UK's anti-money laundering and social responsibility controls. No official word on what the violations are was available as of press time, but Casino Listings will update this story as we learn more.