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Casino operator Caesars struck with record ₤ 13m charge

2 April 2020

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

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

The regulator exposed "serious organized failings" at Caesars, which operates 11 casinos in the UK.

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

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

VIP plans reward individuals who wager large amounts of money. The Gambling Commission said it has reached an arrangement with betting firms to age-restrict VIP incentive schemes 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 actually shown indications of problem gambling

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

inadequate source of funds look at a client who bet ₤ 3.5 m and lost ₤ 1.6 m over a three-month duration

In addition to the financial penalty, three senior supervisors at Caesars have actually quit their individual licences.

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

"A culture of putting customer security at the heart of company decisions ought to be set from the very leading of every company and Caesars stopped working to do this.

"In recent times the online sector has actually gotten the yohaig code best analysis around VIP practices however VIP practices are found right across the industry and our difficult method to and enforcement will continue, whether a business is on the High Street or online.

"We are absolutely clear about our expectations of operators - whatever type of betting they bet9ja's welcome offer they should know their customers. They should engage with them and inspect what they can afford to gamble with - stepping in when they see signs of harm. Consumer security is non-negotiable."

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

"Since discovering, instantly dealing with 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 best practice. We are confident of the effectiveness of our compliance initiatives moving forward."

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

The Gambling Commission has been stepping up its actions versus betting companies and has imposed penalties of ₤ 27m in total this year.

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

Record ₤ 11.6 m charge for gambling firm Betway