Casino operator Caesars Entertainment is set to pay £13m after a series of failures over money laundering, social responsibility and customer interaction in the UK, in the Gambling Commission’s biggest penalty package.

Three senior managers have also given up their personal licences.

The commission said it had found “serious systematic failings” at the business, which operates 11 casinos across Britain. It singled out the way VIP customers were treated between January 2016 and December 2018.

Sharing the full story, not just the headlines

One customer was allowed to lose £323,000 in a year despite showing signs of problem gambling, including spending more than five hours in a casino on 30 occasions.

It also failed to do proper checks on where the funds of big spenders came from, including one customer who wagered £3.5m and lost £1.6m in three months, and another politically exposed person who lost £795,000 in just over a year.

Neil McArthur, chief executive of the Gambling Commission, said: “We have published this case at this time because it’s vitally important that the lessons are factored into the work the industry is currently doing to address poor practices of VIP management in which we must see rapid progress made.”

The £13m will be used to reduce harmful gambling.

It is the biggest penalty any gambling company has been forced to pay, ahead of an £11.6m package slapped on Betway last month for VIP customer failings.

Mr McArthur added: “The failings in this case are extremely serious. A culture of putting customer safety at the heart of business decisions should be set from the very top of every company and Caesars failed to do this. We will now continue to investigate the individual licence holders involved with the decisions taken in this case.

”In recent times the online sector has received the greatest scrutiny around VIP practices but VIP practices are found right across the industry and our tough approach 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 type of gambling they offer they must know their customers. They must interact with them and check what they can afford to gamble with – stepping in when they see signs of harm. Consumer safety is non-negotiable.”

Past penalties from the Gambling Commission include £7.8m for 888 in 2017, a £7.1m fine for Daub Alderney in 2018, £6.2 million for William Hill in 2018 and £5.9m for Ladbrokes Coral Group in 2019.

No hype, just the advice and analysis you need

Register with your social account or click here to log in

So far this year, the commission has suspended the operating licences of three businesses.

Caesars chief regulatory and compliance officer Susan Carletta said: “Caesars Entertainment UK acknowledges falling short of its standards and accepts the settlement reached with the British Gambling Commission.


Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Exclusive: U.S.-China trade deal review planned for Saturday postponed, sources say

WASHINGTON (Reuters) – A review of the U.S.-China trade deal initially slated for Saturday will be delayed due to scheduling issues, and no new date has been agreed yet, according to sources familiar with the plans. U.S. Trade Representative Robert…

Kinder Morgan profit jumps 26% on Gulf Coast Express pipeline strength

(Reuters) – U.S. pipeline operator Kinder Morgan Inc (KMI.N) reported a 26% rise in quarterly profit on Wednesday, benefiting from higher gas takeaway from Permian Basin through its Gulf Coast Express pipeline. The pipeline, which can transport 2 billion cubic…

Air maintenance firms, manufacturers plan for $60 billion in lost sales

(Reuters) – Maintenance firms and spare parts producers who keep airplanes running are bracing for a decline of up to 75% in sales this year – and more pain to follow – as airlines park or retire thousands of aircraft…

American Airlines says plans to take 737 MAX orders though unsure when

CHICAGO (Reuters) – American Airlines (AAL.O) is in “good discussions” with Boeing Co (BA.N) to finalize financing on 17 737 MAX jets that were to be delivered this year, an executive said on Thursday, adding that the airline still wants…