New Betfred penalty signs off a summer of fines from the gambling watchdog September 28, 2022 Adding to what feels like a summer of fines for betting firms, the Gambling Commission whacked Betfred with a fresh £2.87m penalty this morning for social responsibility and anti-money laundering failings. The failures include a lack of controls, which meant one punter lost £70,000 in a 10-hour period just a day after opening an account. “This [...]
West Ham sponsor Betway hit with £400k fine over marketing on kids’ webpages September 21, 2022 West Ham’s main sponsor Betway has been whacked with a fine of over £400,000 for marketing on children’s webpages, adding to the tide of penalties given to gambling firms in recent months. The Gambling Commission found that between 14 April 2020 and 6 November 2021 the operator’s gambling logo, which linked to its website, was [...]
Ladbrokes owner Entain faces another probe into anti-money laundering September 12, 2022 AFTER being fined a record £17m last month, Ladbrokes owner Entain is now facing an investigation from down under over potential anti-money laundering breaches. The investigation was announced this morning by the AUSTRAC – the Australian Transaction Reports and Analysis Centre – as part of an “extensive supervisory campaign covering the whole corporate bookmaking sector”. [...]
Watchdog whacks Spreadex with £1.36m fine over punter failings August 25, 2022 Spreadex has been slapped with a £1.36m fine by the gambling watchdog after it found social responsibility and anti-money laundering failings.
Ladbrokes owner Entain fined record £17m over social responsibility and money laundering failures August 17, 2022 The gambling watchdog whacked the betting shop owner Entain with record £17m this morning over “completely unacceptable” anti-money laundering and social responsibility failures. The Gambling Commission said the Ladbrokes and Coral owner repeatedly failed to protect problematic gamblers from betting huge sums in their shops and online casinos. The commission said the firm let blocked [...]
Ladbrokes owner Entain creates new venture to drive Central and Eastern European expansion August 11, 2022 Ladbrokes owner Entain has joined forces with an investment firm to create a new venture to fuel expansion in Central and Eastern Europe. Entertain CEE will drive expansion in the markets, in a partnership with EMMA Capital, with Entain owning 75 per cent of the economic rights. The London-listed firm also announced a takeover of [...]
Ex-F1 boss Eddie Jordan mulls second approach for Playtech July 17, 2022 Ex-Formula One team boss Eddie Jordan is reportedly considering a second approach for gaming software firm Playtech. JKO Play, a consortium led by Jordan and gambling executive Keith O’Loughlin, came close to making a 750p per share offer for Playtech, but pulled out of the bidding process in January. It is understood, however, that JKO [...]
Online gambling slows for Ladbrokes owner Entain as lockdown buzz fades and government review looms July 7, 2022 Online net gaming revenue dipped seven per cent Ladbrokes owner Entain as the gambling titan struggles to recapture lockdown momentum. A weaker macro-economic environment is also reducing customers’ rate of spend during the first half of the year, moderating overall online growth versus previous expectations. The closure of the Netherlands ahead of licencing has further [...]
Week ahead: Traders eye rate setter speeches for signs of quicker tightening July 3, 2022 Investors this week will be looking for signs of the Bank of England launching a 50 basis point rate rise at its next meeting on 4 August. London’s premier FTSE 100 index posted a mild performance over last week, dropping 0.56 per cent to end at 7,168.65 points. The domestically-focused mid-cap FTSE 250 index however [...]
Ladbrokes owner Entain snaps up Dutch rival BetCity for up to €850m June 14, 2022 LADBROKES owner Entain snapped up Dutch online sports betting operator Betcity this morning for as much as €850m (£729m) as the betting giant continues its grand push into Europe. Entain said it would acquire the entire share capital of Betcity from Sports Entertainment Media BV for an initial consideration of €300m (£257m) and deferred contingent [...]