Casino operator Caesars hit with record ₤ 13m penalty

2 April 2020

Casino operator Caesars Entertainment UK has actually been hit with a ₤ 13m penalty by the Gambling Commission following a "catalogue" of social responsibility and cash laundering failures.

The penalty is the biggest imposed by the commission to date.

The regulator exposed "major methodical failings" at Caesars, which runs 11 gambling establishments in the UK.

Caesars stated it accepted the settlement and acknowledged it had "disappointed requirements".

The Gambling Commission focused on the treatment of "VIP" customers in between January 2016 and December 2018.

VIP plans reward people who wager large amounts of money. The Gambling Commission said it has reached an agreement with betting companies to age-restrict VIP reward plans to those aged 25 years of ages and above.

Among the failings the commission uncovered, external were:

insufficient interaction with one consumer who lost ₤ 323,000 in a 12-month duration and had displayed indications of issue gambling

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

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

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

"The failings in this case are very serious," stated the Gambling Commission's president, Neil McArthur.

"A culture of putting consumer safety at the heart of company decisions ought to be set from the very leading of every business and Caesars failed to do this promotion code.

"In current times the online sector has received the best scrutiny around VIP practices however VIP practices are discovered right throughout the industry and our hard method to compliance and enforcement will continue, whether a service is on the High Street or online.

"We are absolutely clear about our expectations of operators - whatever kind of betting they use they need to understand their customers. They must communicate with them and check what they can pay for to bet with - actioning in when they see signs of damage. Consumer safety is non-negotiable."

Caesars primary regulative and compliance officer Susan Carletta said: "Caesars Entertainment UK acknowledges falling brief of its requirements and accepts the settlement reached with the British Gambling Commission.

"Since finding, immediately attending to and reporting shortages in 2018, we have boosted our compliance policies and procedures, and are abiding by the licence conditions and commission's guidance for finest practice. We are confident of the efficacy of our compliance initiatives moving forward."

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

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

the yohaig code action against Caesars tops the yohaig code previous record ₤ 11.6 m penalty troubled Betway last month.

Record ₤ 11.6 m penalty for gambling firm Betway