Stake Brazil Temporarily Resumes Operations Amid Betting Ban
- A São Paulo federal judge allowed Stake Brazil to continue operations until October 25, pending a ban on all licenses.
- Stake must keep withdrawals open and cannot offer promotions or bonuses to grow its user base.
- Brazil’s Attorney General’s Office plans to appeal the decision, and the Supreme Court has yet to rule on the ban itself.
- The injunction was granted based on Provisional Measure 1,394, signed by President Luiz Inácio Lula da Silva on September 25.
- Stake Brazil paid a license fee of approximately $6 million and invested around $25.6 million in the country.
The court’s decision allows Stake Brazil to operate temporarily while maintaining strict regulatory conditions like identity checks and anti-money laundering controls. This ruling affects only Stake, leaving other licensed operators offline after the ban took effect on October Legal.
This temporary reprieve highlights the ongoing legal battle over Brazil’s gambling regulations as Stake continues operations under judicial protection until October Legal. (Source)
