Casino operator Caesars struck with record ₤ 13m penalty

2 April 2020

Casino operator Caesars Entertainment UK has been struck with a ₤ 13m penalty by the Gambling Commission following a "catalogue" of social duty and money laundering failures.

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

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

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

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

VIP plans reward people who bet large amounts of money. The Gambling Commission stated it has reached an agreement with betting firms to age-restrict VIP reward plans to those aged 25 years old and above.

Among the failings the commission uncovered, external were:

insufficient interaction with one client 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 identified as a retired postman and lost ₤ 15,000 in 44 days

insufficient source of funds checks on a consumer who bet ₤ 3.5 m and lost ₤ 1.6 m over a three-month duration

In addition to the monetary charge, three senior managers at Caesars have actually quit their personal licences.

"The failings in this case are exceptionally serious," stated the Gambling Commission's primary executive, Neil McArthur.

"A culture of putting consumer security at the yohaig code heart of organization choices must be set from the yohaig code really leading of every business and Caesars failed to do this promotion code.

"In recent times the online sector has received the best analysis around VIP practices but VIP practices are found right across the industry and our difficult approach to compliance and enforcement will continue, whether a company is on the High Street or online.

"We are absolutely clear about our expectations of operators - whatever type of gambling they provide they need to understand their clients. They must engage with them and inspect what they can afford to gamble with - stepping in when they see indications of damage. Consumer security is non-negotiable."

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

"Since finding, right away addressing and reporting shortages in 2018, we have actually boosted our compliance policies and procedures, and are complying with the yohaig code licence conditions and commission's guidance for finest practice. We are positive of the effectiveness of our compliance initiatives moving forward."

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

the yohaig code Gambling Commission has been stepping up its actions versus betting companies and has imposed penalties of ₤ 27m in overall this promotion code year.

the yohaig code action versus Caesars tops the previous record ₤ 11.6 m penalty imposed on Betway last month.

Record ₤ 11.6 m penalty for betting firm Betway