Compliance Updates

UKGC: Systemic failings at Caesars Entertainment UK leads to the departure of three senior managers and sanctions of £13m

Published

4 years ago

April 2, 2020

Reading Time: 3 minutes

The UK Gambling Commission has announced that Caesars Entertainment UK Limited is to pay £13m and must implement a series of improvements following a catalogue of social responsibility, money laundering and customer interaction failures including those involving ‘VIPs’.

As a result of this investigation three senior managers at the company surrendered their personal licences.

The Regulator’s investigations into Personal Management Licence holders are ongoing.

The land-based gambling business, which operates 11 casinos across Britain, will pay the money following an investigation by the Commission which found serious systematic failings in the way the company took decisions about VIP customers between January 2016 and December 2018.

Social responsibility failings included:

Inadequate interaction with a customer who was known to have previously self-excluded and lost £240,000 over a 13-month period
Inadequate interaction with a customer who lost £323,000 in a 12-month period and had displayed signs of problem gambling which included 30 sessions exceeding five hours
A customer allowed to lose £18,000 in a year despite identifying herself as a self-employed nanny and informing staff that her savings had been spent, and that she was borrowing money from family and using an overdraft facility to fund gambling activities
Inadequate interaction with, and source of funds checks on, a customer who identified as a retired postman and lost £15,000 in 44 days.

Money laundering failings included:

The operator not carrying out adequate source of funds checks on a customer who was allowed to drop around £3.5 million and lose £1.6 million over a period of three months.
The operator not obtaining adequate evidence of source of funds for a politically exposed person (PEP) who lost £795,000 during a 13-month period
The operator not carrying out enhanced customer due diligence (ECDD) checks on a consumer who lost £240,000 over a 13-month period
The operator not carrying out adequate source of funds checks on a customer who identified as a waitress and was allowed to buy-in £87,000 and lose £15,000 during a 12-month period.

Neil McArthur, Chief Executive 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. We will now continue to investigate the individual licence holders involved with the decisions taken in this case.

“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 the high street or online.

“We are absolutely clear about our expectations of operators – whatever type of 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.”

All £13m from this case will be directed towards delivering the National Strategy to Reduce Gambling Harms.

The action against Caesars is the latest in a line of tough regulatory action by the Commission.

Since January the Commission has suspended the operating licences of Stakers Limited, Addison Global Limited, and Multi Media International Limited.

So far this year regulatory action has led to the industry paying £27 million in penalty packages. This includes £11.6 million for Betway and £3 million for Mr Green.

Read public statement about Caesars Entertainment here.

Source: UKGC

Compliance Updates

GoldenRace is now certified in the Netherlands

Published

7 hours ago

April 18, 2024

George Miller

goldenrace-is-now-certified-in-the-netherlands

Reading Time: < 1 minute

GoldenRace, global provider of award-winning Virtual Sports and betting solutions, has recently obtained a certification for its highly acclaimed Virtual Sports and Games in the Dutch market.

GoldenRace successfully navigated the stringent regulatory landscape of the Netherlands, and now will be providing its impressive betting products into the Online Dutch market, which will be an important advancement in our operational expansion.

The Netherlands betting scene is on the cusp of a substantial growth phase and with GoldenRace’s latest certification, we introduce to the Dutch market a range of highly popular games tailored to desktop and mobile, in both scheduled and on-demand modes.

Among the offer, players will enjoy our most-played Virtual Football line-up – including Football Single, Leagues, World Cup and Euro Champions-, adrenaline-pumping 3×3 Basketball and MMA and top-notch races as Horse Racing, Greyhound Racing and Grand Prix Indianapolis 60. Last but not least, our Number Games, such as Spin2Win. All ready to captivate Dutch players.

The post GoldenRace is now certified in the Netherlands appeared first on European Gaming Industry News.

Asia

PAGCor Welcomes Lawyer Wilma Eisma as New President and Chief Operating Officer

Published

7 hours ago

April 18, 2024

Alan Campbell

pagcor-welcomes-lawyer-wilma-eisma-as-new-president-and-chief-operating-officer

Reading Time: < 1 minute

The Philippine Amusement and Gaming Corporation (PAGCor) today welcomed its new President and Chief Operating Officer, lawyer Wilma Eisma, who took her oath of office before Executive Secretary Lucas Bersamin in Malacanang this morning.

“We are happy to welcome Atty. Wilma Eisma as PAGCor’s new President and Chief Operating Officer,” PAGCor Chairman Alejandro Tengco said. “We know she will be a great asset and her vast experience in both the government and private sectors will surely be put to good use here.”

Tengco said he witnessed Eisma’s oath-taking in Malacanang this morning. She then immediately joined her first PAGCor board meeting in the afternoon as the agency’s first ever woman President and Chief Operating Officer.

A lawyer by profession, Eisma earned her law degree from the Ateneo de Manila University and was a member of the Board of Directors of the Development Bank of the Philippines before joining the state gaming firm.

Prior to that, she also served as the first woman Administrator and Chairman of the Subic Bay Metropolitan Authority (SBMA).

Her private sector stints include leadership roles in PMFTC Incorporated, the Philippine affiliate of Philip Morris International.

She also held key positions at the Department of Trade and Industry where she worked at the Office of the Secretary and in the Office of the Majority Leader in the House of Representatives, among others.

Eisma succeeded Atty Juanito Sanosa Jr who resigned as PAGCor President and Chief Operating Officer last January.

The post PAGCor Welcomes Lawyer Wilma Eisma as New President and Chief Operating Officer appeared first on European Gaming Industry News.

Compliance Updates

MGA: Update to the Incident Reporting Requirements

Published

12 hours ago

April 18, 2024

George Miller

mga:-update-to-the-incident-reporting-requirements

Reading Time: 2 minutes

The Malta Gaming Authority would like to inform its licensees of updates made to the Incident Report mechanism available through the Licensee Portal The information hereunder outlines relevant guidance and procedures for the submission of an Incident Report through the updated reporting instrument entitled the ‘Technical – Information Security Incident’.

As mandated by Articles 37(2)(c) and (d) of the Gaming Authorisations and Compliance Directive (Directive 3 of 2018), “Licensees shall notify the Authority forthwith, and in any case no later than three (3) working days after, the following:

(c) Any breach of the licensee’s information security that adversely affects the confidentiality of information relating to players;

(d) Any breach of the licensee’s information security that precludes players from accessing their accounts for a period exceeding twelve (12) hours.”

In this regard, Licensees are obliged to submit an Incident Report in order to notify the Authority of the circumstances relating to an information security breach that meet the above specified criteria. Additionally, Licensees are advised to remain mindful of any further obligations emanating from the General Data Protection Regulation (EU/2016/679) and any relevant legislation.

The Technical – Information Security Incident option will be accessible through the “New/Change” dropdown menu via the Portal. Upon selection, users will be directed to the applicable sections of the ‘Technical – Information Security Incident’ where all compulsory fields and any relevant documentation must be submitted to the Authority.

Upon submission, the Incident Report shall undergo review by the Authority. Any missing information that may be identified by the Authority, shall be requested accordingly from the Licensee. It is imperative that any pending clarifications are addressed in a timely manner.

If no further clarifications are deemed necessary by the Authority, the Incident Report will be closed off accordingly, and any relevant documentation will be securely filed for record-keeping purposes.

Any Incident Reports left in ‘Draft’ form (i.e. opened but not effectively submitted) for a period of ninety (90) days shall be automatically discarded.

The post MGA: Update to the Incident Reporting Requirements appeared first on European Gaming Industry News.