Caesars Entertainment's UK branch has received a Gambling Commission fine of £13m ($16.1m) for a series of “systemic failings,” with the funds being directed towards the National Strategy to Reduce Gambling Harms.
The failings, which were committed between Jan 2016 and Dec 2018, were linked to social responsibility, money laundering and customer interaction.
Three senior managers at Caesars Entertainment UK Ltd have surrendered their personal licenses in reaction to the decision.
Among other social responsibility failings, the operator was found to have had inadequate interaction with a customer who was known to have previously self-excluded and lost £240,000 over a 13-month period.
In one transgression of money laundering regulation, the operator was found not to have carried out adequate source of funds checks on a customer who deposited £3.5m and lost £1.6m over a three-month period.
Neil McArthur, CEO of the Gambling Commission, said: “We have published this case at this time because it’s vitally important that the lessons are factored into the work the industry is currently doing to address poor practices of VIP management in which we must see rapid progress made.
“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 very top of every company and Caesars failed to do this.”