The UK Gambling Commission has imposed a penalty on Caesars Entertainment Corp. Follow us to get your online casino bonus UK 2020.
Caesars Entertainment Corp. casino giant. is another big name in the industry, sanctioned by the UK Gambling Commission for Subversion.
The regulator imposed a fine of £ 13m on the operator for a ‘catalog of social responsibility, money laundering and customer interaction failures’, including VIP patrons.
Caesars has 11 land-based casinos in the United Kingdom. Another US company has been fined for breaching UK gambling witch hunts by fining £ 27m and withdrawing licenses from the UK in early 2020 three iGaming companies.
An investigation by the UK Gambling Commission found very serious breaches in the way Caesars handled VIP customers between January 2016 and December 2018.
In a statement on its official website, the regulator claims that Caesars Entertainment Corp.’s mistakes were made. include breach of license 1.1 (Prevention of money laundering and terrorist financing) and Failure to comply with the provisions of the Social Responsibility Code 3.4.1 (interaction with clients).
UK licensed gambling operators are required to provide services to local customers in a socially responsible manner and must interact with any customer who shows even the mildest symptoms of problematic gambling behavior. All operators are also required to carry out checks on their clients’ funds in order to prevent money laundering and other financial crimes.
What are the most serious failures of Caesars?
In terms of social responsibility, this is an “inappropriate interaction” with a customer who has previously excluded himself and who has lost £ 240,000 over a 13-month period playing Caesars-owned Cairo.
The company also did not interact with another customer who lost an impressive amount of 323,000 over a 12-month period and showed signs of problem gambling, including 30 gaming sessions in excess of five hours.
As mentioned earlier, the Las Vegas-based casino giant was also fined by the Gambling Commission for bad money laundering practices. One casino case where they fail to verify an adequate source of funds involves a VIP client who is allowed to lose 1.6 million pounds over a three-month period.
What is the penalty for Caesars Entertainment Corp?
The casino operator has been ordered to pay £ 13m – the highest penalty ever issued by the Gambling Commission. The money will be spent on implementing the UK’s national strategy for reducing gambling harm.
The Gambling Commission also said that three of the executives at Caesars Entertainment Corp. has been ordered to surrender its personal management licenses by the regulator as a result of its investigation into Caesars UK casino activities. The Commission noted that investigations into the three personal license holders would continue.
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