Casino Operator Caesars Hit With Record ₤ 13m Penalty
Casino operator Caesars hit with record ₤ 13m penalty
2 April 2020
Casino operator Caesars Entertainment UK has been struck with a ₤ 13m charge by the Gambling Commission following a "brochure" of social obligation and cash laundering failures.
The charge is the largest imposed by the commission to date.
The regulator uncovered "serious systematic failings" at Caesars, which operates 11 gambling establishments in the UK.
Caesars stated it accepted the settlement and acknowledged it had actually "disappointed standards".
The Gambling Commission focused on the treatment of "VIP" consumers in between January 2016 and December 2018.
VIP plans reward individuals who bet large amounts of money. The Gambling Commission said it has actually reached a contract with wagering companies to age-restrict VIP reward plans to those aged 25 years of ages and above.
Among the failings the commission exposed, external were:
insufficient interaction with one consumer who lost ₤ 323,000 in a 12-month period and had actually shown signs of problem betting
insufficient interaction with, and source of funds look at, a client who recognized as a retired postman and lost ₤ 15,000 in 44 days
insufficient source of funds examine a consumer who wagered ₤ 3.5 m and lost ₤ 1.6 m over a three-month duration
In addition to the financial penalty, 3 senior managers at Caesars have actually given up their personal licences.
"The failings in this case are exceptionally serious," said the Gambling Commission's primary executive, Neil McArthur.
"A culture of putting customer security at the heart of service decisions should be set from the extremely top of every company and Caesars stopped working to do this.
Casino operator Caesars hit with record ₤ 13m penalty
2 April 2020
Casino operator Caesars Entertainment UK has been struck with a ₤ 13m charge by the Gambling Commission following a "brochure" of social obligation and cash laundering failures.
The charge is the largest imposed by the commission to date.
The regulator uncovered "serious systematic failings" at Caesars, which operates 11 gambling establishments in the UK.
Caesars stated it accepted the settlement and acknowledged it had actually "disappointed standards".
The Gambling Commission focused on the treatment of "VIP" consumers in between January 2016 and December 2018.
VIP plans reward individuals who bet large amounts of money. The Gambling Commission said it has actually reached a contract with wagering companies to age-restrict VIP reward plans to those aged 25 years of ages and above.
Among the failings the commission exposed, external were:
insufficient interaction with one consumer who lost ₤ 323,000 in a 12-month period and had actually shown signs of problem betting
insufficient interaction with, and source of funds look at, a client who recognized as a retired postman and lost ₤ 15,000 in 44 days
insufficient source of funds examine a consumer who wagered ₤ 3.5 m and lost ₤ 1.6 m over a three-month duration
In addition to the financial penalty, 3 senior managers at Caesars have actually given up their personal licences.
"The failings in this case are exceptionally serious," said the Gambling Commission's primary executive, Neil McArthur.
"A culture of putting customer security at the heart of service decisions should be set from the extremely top of every company and Caesars stopped working to do this.