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 "catalogue" of social responsibility and cash laundering failures.

The charge is the largest imposed by the commission to date.

The regulator uncovered "severe organized failings" at Caesars, which operates 11 gambling establishments in the UK.

Caesars said it accepted the settlement and acknowledged it had "fallen short of requirements".

The Gambling Commission concentrated on the treatment of "VIP" consumers between January 2016 and December 2018.

VIP schemes reward people who bet large amounts of money. The Gambling Commission stated it has reached an arrangement with wagering firms to age-restrict VIP reward schemes to those aged 25 years of ages and above.

Among the failings the commission uncovered, external were:

inadequate interaction with one consumer who lost ₤ 323,000 in a 12-month period and had displayed indications of issue betting

inadequate interaction with, and source of funds examine, a customer who recognized as a retired postman and lost ₤ 15,000 in 44 days

inadequate source of funds examine a client who bet ₤ 3.5 m and lost ₤ 1.6 m over a three-month period

In addition to the punitive damages, three senior supervisors at Caesars have quit their personal licences.

"The failings in this case are incredibly severe," stated the Gambling Commission's chief executive, Neil McArthur.

"A culture of putting customer safety at the heart of organization decisions must be set from the extremely top of every business and Caesars stopped working to do this.

"In current times the yohaig code online sector has gotten the best scrutiny around VIP practices but VIP practices are found right throughout the market and our difficult method to compliance and enforcement will continue, whether a service is on the High Street or online.

"We are definitely clear about our expectations of operators - whatever type of betting they use they need to know their customers. They must engage with them and inspect what they can afford to gamble with - actioning in when they see indications of damage. Consumer safety is non-negotiable."

Caesars primary regulatory and compliance officer Susan Carletta stated: "Caesars Entertainment UK acknowledges disappointing its requirements and accepts the settlement reached with the British Gambling Commission.

"Since finding, immediately dealing with and reporting shortages in 2018, we have actually boosted our compliance policies and treatments, and are abiding by the licence conditions and commission's assistance for finest practice. We are positive of the efficacy of our compliance initiatives moving forward."

The ₤ 13m penalty will go towards moneying the yohaig code National Strategy to Reduce Gambling Harm, external.

The Gambling Commission has actually been stepping up its actions against betting business and has actually enforced penalties of ₤ 27m in overall this promotion code year.

The action against Caesars tops the previous record ₤ 11.6 m penalty enforced on Betway last month.

Record ₤ 11.6 m charge for gambling firm Betway