Betting group Stakers has lost an appeal following a ruling of the First Tier Tribunal and has ceased operations in the UK after being stripped of its gaming license.
The company was placed under review in March of last year while also having its license suspended by the UK Gambling Commission. The review was carried out using section 116 of the Gambling Act 2005 with the basis being that the UKGC had "reason to suspect that activities may have been carried on in purported reliance on the licence but not in accordance with a condition of the licence."
The regulator found that Stakers had various infractions related to regulatory issues. Stakers appealed the ruling to pull the license and wanted a stay, but that request was denied. This caused Stakers to be effectively out of the UK market, and six months after the initial ruling, the company is done in Britain.