Casino operator Caesars struck with record ₤ 13m charge

2 April 2020

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

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

The regulator exposed "severe methodical failings" at Caesars, which runs 11 casinos in the UK.

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

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

VIP plans reward individuals who bet large sums of money. The Gambling Commission stated it has actually reached an arrangement with betting firms to age-restrict VIP reward schemes to those aged 25 years old and above.

Among the failings the commission exposed, external were:

insufficient interaction with one client who lost ₤ 323,000 in a 12-month period and had shown indications of problem gambling

insufficient interaction with, and source of funds checks on, a customer 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 period

In addition to the monetary penalty, three senior managers at Caesars have offered up their individual licences.

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

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

"In recent times the yohaig code online sector has gotten the best analysis around VIP practices but VIP practices are discovered right throughout the yohaig code industry and our difficult technique to compliance and enforcement will continue, whether a business is on the High Street or online.

"We are absolutely clear about our expectations of operators - whatever kind of betting they provide they should know their customers. They must connect with them and inspect what they can afford to bet with - stepping in when they see signs of harm. Consumer safety is non-negotiable."

Caesars chief 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, right away dealing with and reporting deficiencies in 2018, we have actually boosted our compliance policies and procedures, and are adhering to the licence conditions and commission's assistance for finest practice. We are confident of the efficacy of our compliance initiatives going forward."

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

The Gambling Commission has been stepping up its actions versus wagering companies and has enforced penalties of ₤ 27m in overall this promotion code year.

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

Record ₤ 11.6 m penalty for gambling firm Betway