888 under review by UK Gambling Commission
Online gambling operator 888 has confirmed that it is currently the subject of a licence review by the UK Gambling Commission, which regulates gambling in the UK.
Following similar reviews into operators such as Paddy Power Betfair, Betfred and Gala Coral, UKGC will examine 888’s compliance with a number of licensing regulations regarding social responsibility and the effectiveness of its measures to exclude problem gamblers across its many platforms.
In February 2016, Paddy Power Betfair paid a settlement of £280,000 to socially responsible causes after the UKGC found it had failed to adhere to anti-money laundering regulations and standards of social responsibility. Betfred were forced to pay a settlement of £800,000 in June 2016 following similar breaches of UKGC regulations.
If it is found to be non-compliant, 888 could face financial penalties. In a statement announcing the review, 888 said “The company is dedicated to providing players with a responsible as well as enjoyable gaming experience and the licensee will be proactively engaged in a cooperative and collaborative manner with the UKGC throughout this review.
“The company will make a further announcement as and when appropriate.”
In the wake of the announcement, the value of 888 shares on the London Stock Exchange fell by almost 10% before rallying to an estimated loss of 5.9% earlier today.
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