By Simon Wright Aug 17, 2022
The owners of the well known UK high street bookmaker chain Ladbrokes, have been hit with a record £17m penalty by the UK Gambling Commission, after being found to have social responsibility and anti-money laundering failures at its online and land-based businesses.
The £17m payment covers two areas of the business, £14m in relation to the the company’s online business LC International Limited, which includes Ladbrokes.com and a further £3m for failures identified at Ladbrokes Betting & Gaming Limited operation, which operates over 2,500 betting shops across the UK.
Commenting on what is thought to be believed the largest penalty levied by the UK gambling regulator the UKGC, Andrew Rhodes Chief Executive of the Gambling Commission said: “Our investigation revealed serious failures that have resulted in the largest enforcement outcome to date.”
“There were completely unacceptable anti-money laundering and safer gambling failures. Operators are reminded they must never place commercial considerations over compliance.”
“This is the second time this operator has fallen foul of rules in place to make gambling safer and crime free. They should be aware that we will be monitoring them very carefully and further serious breaches will make the removal of their licence to operate a very real possibility. We expect better and consumers deserve better.”
For further information, visit the UKGC site here: https://www.gamblingcommission.gov.uk/news/article/entain-to-pay-gbp17-million-for-regulatory-failures
Simon Wright has been both a player and an observer of the online casino industry for over 15 years. His knowledge of the online casino industry – to include sports is massive. Not many folks have the experience or his knowledge about online gambling. His adoration of football is also noted. He has painted his house blue (Chelsea) and annoys his neighbors with local football songs on game days.
