With the gambling regulator in the UK and other organisations constantly working on improving the safety of vulnerable players, the number of individuals who registered for self-exclusion reached a record digit in 2021. According to GAMSTOP, 250,000 people in the UK have opted-in the self-exclusion scheme of the organisation, marking a record-high number.
Last week, the UK Gambling Commission (UKGC) imposed a £685,000 financial penalty to Greentube due to its operational failings. The penalty was a result of a UKGC investigation that revealed social responsibility and money laundering failings.
Meanwhile, last week it became clear that William Hill is working towards the acquisition of its European assets. According to gambling operator 888, they expect to complete their acquisition deal by the end of the first quarter of 2022.
GAMSTOP’s Self-Excluded Users Reach Record-High Number in 2021
Based on recently published data, it became clear that by 2021, GAMSTOP reached a new milestone. This year, the total number of people who registered with the self-exclusion program of the organisation reached 250,000, marking a new record in the company’s history.
The second-highest number of registered players in GAMSTOP’s history was recorded in March of 2021, with 7,000 people making use of the self-exclusion tool. The number of players who have resorted to the tool in 2021 amounted to 67,000. If we compare these numbers to the previous year, we will see a notable surge in registered players as the number of self-excluded users in 2020 amounted to 51,000.
There are several reasons for the record-high number of people who have chosen the self-exclusion tool. One of the main factors that contributed to more people seeking to restrict themselves was the global pandemic. As more people tried to avoid any potential gambling harm during the rough period of the pandemic, the number of people who were self-restricting themselves from gambling also increased.
Of course, different measures taken by the UKGC and other organisations involved in the gambling industry also contributed to the high number of players registered for self-exclusion. What is more, GAMSTOP ensured it will continue to seek partnerships with different organisations to spread more awareness about safer gambling and self-exclusion as a tool to avoid gambling-related harms.
UKGC Imposes Financial Penalty to Greentube Due To Responsible Gambling and Money Laundering Failings
Last week, the UKGC took regulatory actions against Greentube Alderney Limited, imposing a £685,000 penalty due to several operational failings. The said company is responsible for the operation of admiralcasino.co.uk and bellfruitcasino.com, with Greentube Alderney also soon going through a rigorous evaluation of its failures that occurred between December 2019 and November 2020.
The financial penalty came as a result of a UKGC investigation that revealed several operational failures. The regulatory body confirmed that Greentube did not establish proper communication with its customers to prevent gambling-related risks. The operator was also not able to properly evaluate the potential of money laundering activities and did not take the correct measures to avoid money laundering. Greentube also failed to warn the UKGC about an event that could have affected the integrity of the business conducted by a licensee.
William Hill’s European Assets to be Acquired by the Beginning of 2021 According to 888
Last week, gambling operator 888 expressed confidence in completing its £2.2 billion acquisition deal of William Hill’s European division in the first quarter of 2022. The said proposition was approved in September, with 888 receiving the right to operate William Hill’s European business of 1,400 betting shops.
According to 888, they have made serious progress with the acquisition as the company has obtained the required antitrust and regulatory permissions. The operator believes that a circular and prospectus are due to be issued in the first four months of next year. Once that happens, there will be a shareholder vote, allowing 888 to complete the acquisition.
The gambling operator predicted that they will manage to raise about £500 million in equity before the acquisition of William Hill’s assets is completed. This acquisition is expected to give birth to a new leader in the global online gaming and betting industry. Itai Pazner, Chief Executive of 888, shared that the company is happy with its progress towards the acquisition which is expected to be completed in the first quarter of the upcoming year.