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Casino operator Caesars struck with record ₤ 13m charge

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 cash laundering failures.

the yohaig code penalty is the largest enforced by the commission to date.

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

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

the yohaig code Gambling Commission focused on the yohaig code treatment of "VIP" clients between January 2016 and December 2018.

VIP plans reward individuals who wager large amounts of money. The Gambling Commission stated it has actually reached an arrangement with wagering firms to age-restrict VIP incentive schemes 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 period and had displayed indications of problem betting

inadequate interaction with, and source of funds checks on, a consumer who determined as a retired postman and lost ₤ 15,000 in 44 days

inadequate 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 financial charge, three senior supervisors at Caesars have actually quit their .

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

"A culture of putting client safety at the heart of business choices must be set from the very top of every company and Caesars stopped working to do this.

"In recent times the online sector has received the best examination around VIP practices however VIP practices are discovered right throughout the industry and our hard approach 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 clients. They need to 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 regulatory and compliance officer Susan Carletta said: "Caesars Entertainment UK acknowledges disappointing its requirements and accepts the settlement reached with the British Gambling Commission.

"Since finding, right away addressing and reporting deficiencies in 2018, we have actually enhanced our compliance policies and treatments, and are abiding by 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 betting business and has enforced penalties of ₤ 27m in total this 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