Caesars may be one of the biggest gaming companies in the world. However, it is also a bit poorer with a record 13 million pound penalty issued by the British Gambling Commission. As stated in the ruling, the regulator uncovered “serious systematic failings” at Caesars. The company owns and operates 11 casino venues across the UK. Caesars admitted to those failings. The company also acknowledged it had ” fallen short of standards.”
The Gambling Commission’s investigates Caesars Entertainment UK on the treatment of VIP players?
The timeframe in question was between January, 2016 and December, 2018. VIP schemes reward players who wager large sums of money. Those schemes are supposed to be targeted to players who are at least 25 or older.
The grocery list of issues uncovered by the Gambling Commission included three specific cases of player abuse as follows”
Gambling losses of 323,000 pounds in a 12-month period. The customer had previously displayed signs of problem gambling.
A lack of oversight for 15,000 pound loss in 44 days. The gentleman who lost the money was a retired postal worker.
A lack of oversight for one player who lost 1.6million pounds in three months.
These were the most blatant examples given. The Chief Executive of the Gambling Commission is Neil McArthur and he added the following insight:
“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 top of every company. And Caesars failed to do this.”
Along with the hefty fine, three senior managers at Caesars had to relinquish their personal gaming licenses. Mr. McArthur went on to add:
“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 High Street or online.”
“We are absolutely clear about our expectations of operators – whatever type pf 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.”
Susan Carletta is Caesar’s Chief Regulatory and Compliance Officer. She offered the following response:
“Caesars Entertainment UK acknowledges falling short of its standards. And accepts the settlement reached with the British Gambling Commission. Since discovering, immediately addressing and reporting deficiencies in 2018, we have enhanced our compliance policies and procedures. And are complying with the license conditions and commission’s guidance for best practice. We are confident of the efficacy of our compliance initiatives going forward.”
The 13 million pound fine has been earmarked to fund the National Strategy to Reduce Gambling Harm.
The total amount of imposes penalties this year is 27 million pounds. Betway was hit with an 11.6 million pound penalty last month ahead of Caesars’ record fine. William Hill was also fined 3 million pounds.
