🔥 Casino company Caesars Entertainment fined record £13m | Society | The Guardian
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Casino company Caesars Entertainment fined record £13m Business Today email or follow Guardian Business on Twitter at @BusinessDesk.
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We are confident of the efficacy of our compliance initiatives going forward. Topics Gambling. Reuse this content. The tougher stance comes as the commission is under pressure, accused of being too weak after a damning report that said it was being outmuscled by the gambling industry and incapable of ensuring vulnerable people were protected. Regulators news. This decision reaffirms our suspicions from the off that the involvement of GVC in this process has tainted the outcome. Most popular.{/INSERTKEYS}{/PARAGRAPH} In money-laundering rules, a PEP is someone who is at higher risk of being involved in bribery and corruption by virtue of their position. The regulator is already reviewing VIP schemes via a working group led by the Ladbrokes owner, GVC, itself the subject of criticism over cases involving customers being rewarded for losing large amounts of money. The regulator found that Caesars was guilty of a series of serious systematic failings in its treatment of VIPs, who are typically offered perks to inspire loyalty because they bet and lose large sums. The Gambling Commission has lost all trust and needs overhauling. {PARAGRAPH}{INSERTKEYS}Three senior managers at Caesars Entertainment, which has 11 casinos in UK cities and seaside towns, will also lose their licence to run a gambling business.