Who Operates Stake? Licences in Curaçao, Brazil and the UK exit

Who operates Stake.com, and which company holds the licence?

The company named in the Curaçao licence records for stake.com is Medium Rare N.V., registration number 145353, which holds business-to-consumer licence OGL/2024/1451/0918 from the Curaçao Gaming Authority (CGA, the island’s gaming regulator), according to the CGA licence certificate: Medium Rare N.V. and the CGA online gaming licence register dated 21 September 2026 (both checked 29 September 2026).

The certificate lists stake.com as an approved domain. On our count of that certificate snapshot, one distinct domain is listed; a domain count is not a brand count, mirrors are included, and a snapshot is not a permanent inventory.

We also checked the operator’s own disclosure: the Stake.com licence page, read on 29 September 2026, names Medium Rare and OGL/2024/1451/0918, matching the identity shown on the CGA certificate. That is a match of names and a licence number, not a verification of ownership.

Two limits matter for anyone using these records. The registration number and registration jurisdiction for Medium Rare N.V. come from regulator disclosure; we did not obtain an independent corporate-register extract. And a Curaçao licence is not an authorisation to serve customers in another country: the CGA records do not establish permitted customer markets. This page covers the licence-holding companies only; the records reviewed do not establish beneficial ownership, and we do not discuss individuals. Readers who want the mechanics of Curaçao records can compare our certificate versus register walkthrough.

Which legal entity operates Stake in each market?

Three different legal entities appear in the official records for the three Stake-branded domains, one per market.

Sources for the table rows: the CGA certificate and CGA register for Medium Rare N.V.; the Brazilian Ministry of Finance list of SPA authorisations before MP 1.394/2026 for Stake Brazil LTDA; and the UKGC consumer information notice Stake leaving GB market, published 12 February 2025.

Medium Rare N.V., Stake Brazil LTDA and TGP Europe Limited are separate legal entities in the records we checked. Grouping them under the Stake name is our own labelling of shared branding, not an ownership finding: the reviewed records do not establish a corporate chain or common control between the three companies. TGP Europe Limited’s registration jurisdiction was not independently verified.

Why do the Curaçao certificate and the register disagree for OGL/2024/1451/0918?

Because they are two separate official displays, recorded at different times, and they do not say the same thing. We keep both observations rather than merging them into a single “licence status”.

Our cross-check of the two documents, held as a qualified finding: the Medium Rare N.V. certificate displays “Active”, while the register dated 21 September 2026 displays “Assessment in progress” alongside an expiry field of 9 June 2026. In plain words, an “Assessment in progress” entry indicates that the authority’s register shows the licence as being processed or reviewed at that date; on the face of that register the entry is not marked revoked, suspended or surrendered. The difference between the two displays is unexplained in the records themselves and would need clarification from the regulator. It is not, on this evidence, a finding of wrongdoing by Medium Rare N.V., and a dated snapshot is not a guarantee of the current state.

What happened in Great Britain, and who was the local operator?

Stake-branded gambling for Great Britain was due to end on stake.uk.com, which the UKGC identified as a white-label site run by TGP Europe Limited. According to the UKGC’s consumer information notice published on 12 February 2025, TGP Europe Limited announced its exit from the GB market, and the Commission stated a shutdown deadline of 11 March 2025 (UKGC notice, checked 29 September 2026).

A white-label arrangement means the British-facing site was run by the local operator, in this case TGP Europe Limited, rather than under the Curaçao licence held by Medium Rare N.V. On our count, one domain, stake.uk.com, is associated with TGP Europe Limited in that notice.

Two points of precision. The GB exit concerned stake.uk.com and TGP Europe Limited; it was not a revocation of the Curaçao licence OGL/2024/1451/0918 held by Medium Rare N.V. And the records we reviewed do not establish any link between the GB exit and the September 2026 leak reporting, so no such link should be inferred. Anyone worried about their own gambling can contact a gambling support service in their own country.

What is Stake’s status in Brazil after MP 1.394/2026?

In Brazil the operating entity in the official list is Stake Brazil LTDA, CNPJ 56.525.936/0001-90, holder of authorisation SPA/MF 263 of 7 February 2025 from the Secretaria de Prêmios e Apostas (SPA, the betting secretariat of the Ministry of Finance) for fixed-odds betting, with stake.bet.br shown as the listed domestic domain.

As checked on 29 September 2026, that entry sits in the ministry’s list of companies authorised before the effectiveness of MP 1.394/2026; no expiry date is stated in that record. The list’s framing matters: it records an authorisation granted before the provisional measure took effect, and the text of provisional measure 1.394/2026 is published by Planalto with a record date of 25 September 2026. On this evidence the entry should not be read as an unrestricted current authorisation; it is an authorisation inside a transition, and it requires a recheck. Readers comparing Brazilian operator records across brands can also see our page on Blaze in Brazil.

Dated timeline of the records reviewed

A wider view of which brands and countries appear across the leak records is set out on our Casino Secrets leak overview.

What these records do not contain is any account of the leak reporting itself, or the positions the named companies have taken, which is where the published journalism and any company responses come in.

What the Casino Secrets reporting says about Stake

The reviewed reporting places Stake among the brands discussed in coverage of the Curaçao leak, but it does not attach any revenue, loss or penalty figure to the brand. Follow the Money, published on 22 September 2026, discusses Stake directly in its account of the secretive Curaçao gambling industry; the global economic loss said to arise from the leak is not measured in the sources we reviewed. No published response from Medium Rare N.V., Stake Brazil LTDA or TGP Europe Limited is included in the reviewed sources, and no proceeding, fine or damages request against any of those three entities appears in the records we checked.

The only regulatory action in the record set is the Great Britain exit. The UK Gambling Commission consumer information notice, dated 12 February 2025, identified TGP Europe Limited as the white-label operator of stake.uk.com and set out a planned closure of the site by 11 March 2025. That is an announced market exit in Great Britain concerning one domain and one operator; it is not a revocation of the Curaçao licence held by Medium Rare N.V., and no link between the exit and the leak is established in the sources.

In Brazil, the Secretaria de Prêmios e Apostas (the Ministry of Finance prizes and betting secretariat) list of authorisations granted before the effectiveness of MP 1.394/2026 records Stake Brazil LTDA with authorisation SPA/MF 263 of 7 February 2025. Because provisional measure 1.394/2026, published on 25 September 2026, changes the framework those authorisations were granted under, the entry should be read as an authorisation predating the measure rather than as an unrestricted current authorisation.

Claim versus evidence: what is established and what is not

What is still unresolved

• How the Curaçao Gaming Authority will resolve the “Assessment in progress” entry for OGL/2024/1451/0918, and how that sits with the certificate showing “Active” (certificate grant date 9 June 2025) and the register’s issue date of 9 December 2025 and expiry field of 9 June 2026.
• What effect MP 1.394/2026 and any pending court challenges will have on the authorisation held by Stake Brazil LTDA.
• The registration jurisdiction of TGP Europe Limited, which we did not independently verify beyond the UK Gambling Commission disclosure.
• Whether any revenue, deposit or turnover figures exist for Stake in the leak material: none appear in the sources reviewed here.
• Whether the Great Britain exit has any connection to the leak: not established, and not to be inferred.

Why these records matter

For people in the UK checking a casino, the practical point is jurisdictional. A Curaçao licence is not an authorisation to serve customers in Great Britain, and the UK Gambling Commission notice of 12 February 2025 records that the Great Britain-facing site stake.uk.com was to close by 11 March 2025 under a separate operator. Anyone worried about their own gambling can contact a gambling support service in their country.

For industry and compliance readers, the case shows why entity-level checks beat brand-level ones. Three markets, three separate legal entities, three different record systems, and two official Curaçao displays that do not agree — a pattern examined in more detail on our Curaçao licence check page. Shared branding across stake.com, stake.bet.br and stake.uk.com is not, on its own, evidence of common ownership or control.

For regulators and journalists, the Curaçao conflict is the item worth chasing: a dated register row and an undated certificate cannot both be a complete description of the same licence. The Brazilian entry raises a parallel question about transition status, comparable to the Brazilian licensing issues set out in our Blaze in Brazil analysis and in the wider leak exposure overview.

How to check Stake’s licence records yourself

1. Open the CGA online gaming licence register dated 21 September 2026 and find licence OGL/2024/1451/0918 at page 7, row 193; note the status and the dates shown.
2. Open the CGA licence certificate for Medium Rare N.V. and record the status, grant date and approved domains separately from the register entry.
3. Compare both with the Stake.com licence page to see whether the self-disclosed licence number and holder match the certificate.
4. For Brazil, search the SPA list of authorisations before MP 1.394/2026 for CNPJ 56.525.936/0001-90, then read MP 1.394/2026 for the transition rules that apply to it.
5. For Great Britain, read the UKGC consumer information notice of 12 February 2025 for the operator identity and closure date.
6. Date-stamp every screenshot you take. A register snapshot describes the day it was published, not necessarily the position today.

How we checked this

• We checked official regulator records for the entities named on this page, including the CGA online gaming licence register dated 21 September 2026 and the CGA licence certificate for Medium Rare N.V.
• We checked Brazil’s SPA authorisations list and the text of Brazil’s provisional measure 1.394/2026
• We checked the UKGC notice on Stake leaving the GB market and cross-referenced Stake.com’s own licence disclosure against the CGA certificate
• Research for this page closed on 29 September 2026; all cited licence records were rechecked on 30 September 2026
• We did not access, host or reproduce any leaked documents, and we did not name or describe any individual owner, director or founder; this page covers licence-holding companies only

Limits

• TGP Europe Limited’s registration jurisdiction was not independently verified in the sources reviewed for this page
• No revenue figures for Stake are included, because none appear in the reviewed sources
• Registration numbers for Medium Rare N.V. and Stake Brazil LTDA come from regulator disclosure; no independent corporate-registry extract was obtained for either company
• The conflict between the Medium Rare N.V. certificate status and the 21 September 2026 register entry is reported as a discrepancy, not resolved as a finding of wrongdoing

Sources

• CGA online gaming licence register - official record, dated 21 September 2026
• CGA licence certificate: Medium Rare N.V. - official record, date not stated
• SPA authorisations before MP 1.394/2026 - official record, date not stated
• UKGC: Stake leaving GB market - official record, published 12 February 2025
• Brazil provisional measure 1.394/2026 - official record, published 25 September 2026
• Follow the Money: gambling industry exposed - published reporting, 22 September 2026
• Stake.com licence page - our own check, date not stated

Corrections and right of reply

Companies named on this page may send a correction or response, and any published reply from a named party is added next to the relevant claim rather than in a separate statement. This page is updated when the underlying regulator records or published reporting change.

Curaçao Leak is not affiliated with the Casino Secrets / Curaçao Files project, its journalists or media partners, the Curaçao Gaming Authority, or any company named on this page; we do not host, quote at length, republish or link to leaked documents, and we link only to public reporting and official records.