The UK Gambling Commission (UKGC) has fined Caesars Entertainment Corp. a whopping £13 million for failing to adhere to social responsibility as well as money laundering and customer infraction issues. Caesars currently operates 11 casinos in the United Kingdom and was caught in violation of the rules as the UKGC has been on the hunt to find operators who are not following their strict guidelines.
An investigation by the UKGC involving Caesars uncovered several violations regarding the way the company handled their VIP players from January 2016 through December 2018. According to the regulator, the company did not comply with money laundering and terrorist financing protocols as well as failed to comply with the social responsibility code.
All operators who are licensed to offer gambling services in the UK must provide gaming to customers in a socially responsible manner. Any customer who shows a sign of problem gambling must be spoken to. Fund checks of customers are also to be conducted in order to stop any money laundering or other financial criminal activity.
Caesars has been accused of allowing a player that had self-excluded to play and lost £240,000 at one of their property’s. Another player lost £323,000 in one year and had shown signs of problem gambling, including playing for 30 sessions that lasted five hours.
As far as anti-money laundering practices are concerned, the company was found to have been in violation. One instance showed that a patron was able to spend £3.5 million in a short time frame and a fund check was not conduced on this patron.
The money that Caesars will pay as their penalty will go towards the National Strategy to Reduce Gambling Harm in the UK. The Commission also required three senior executives of the company to turn over their Personal Management Licensing.