Betway, which currently sponsors West Ham United’s shirt, will not be able to also become the stadium’s first-ever sponsor.
The operator signed a six-year shirt sponsorship deal with West Ham during the summer, worth around £10m ($12.6m) a year.
Vodafone pulled out of a £20m six-year naming rights deal in 2017 and the stadium has remained unsponsored ever since.
The London Stadium lost £25.5m in the year to March 31 2019 and the LLDC has predicted these losses will worsen over the course of the next year, potentially rising to £29.1m.