The UK Gambling Commission announced this week that they've levied a huge £7.8 million fine for failing to protect problem gamblers from using their sites.
The fine was announced by the regulator via their website today and was dished out after more than 7,000 self-excluded players in the country's database were able to access the company's products. The company reportedly allowed the problem gamblers to access the site for more than 13 months and neglected to spot red flags for problem gambling behaviors. One self-excluded punter reportedly stole £55,000 from his employer and gambled £1.3 million on 888's casino.
in a statement, UKGC CEO Sarah Harrison said, "The 888 sanction package will ensure those affected don't lose out, that the operator pays the price for its failings via a sum that will go to tackling gambling-related harm, and that independent assurance will be given to see that lessons are learnt."
Despite the hefty fine, the news is good for 888, as investors feared the company could have their gaming license revoked because of the seriousness of the violations. After the news 888's stock prices were up 5.3%.
888 has said that it agrees with the conclusion of the review and will work hard to enforce responsible gambling procedures moving forward.
Comments
Obviously that £7.8 million fine won't bothers them too much, hopefully 888 will change their approach for problem gamblers.
Oh, I see. In the country where the gambling is legally allowed and strongly controlled, there can be many problem gamblers and at the same time there is a kind of central measure to treat them like the self exclusion from all regulated casinos.
Well that's a huge fine and probably will affect their overall numbers, but at least they still have their licence.