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USA-Casino.com Report: 2022 Global Casino Industry Fines Reached $128M - Up 166%
Brands which suffered regulatory wrath include Betr, Betway, Draftkings, BetMGM, Unibet, LeoVegas, 888, PointsBet & more.
Key failings by gambling companies identified by regulators in 2022 included:
The largest gambling industry financial penalties of 2022 went to Star Entertainment Group (fined AU$100,000,000 by Australian regulators for license breaches that included allowing money laundering to take place at its Sydney casino – also losing its license), and Entain – fined US$21 million (£17,000,000) – the largest fine in UKGC history, after the Commission found anti money laundering (AML) irregularities at Entain's Coral and Ladbrokes online businesses as well as several land-based betting shops.
As of October 2022 , the UK's gambling regulator had charged 16 operators a total of $48m (£45m), with CEO, Andrew Rhodes , stating that "the message is starting to get through".
The narrative around gambling in the US has shifted dramatically recently, with critical coverage from the New York Times , Wall St Journal and other major media outlets highlighting the shortcomings of the industry.
Former US gambling-regulator Richard Schuetz spoke with USA -Casino.com and said that in the future he expects more fines, and more gambling-regulation in the US in 2023:
With increased scrutiny and likely increases in cases of problem gambling it's quite likely that the global gambling industry will see a wave of new marketing and licensing regulations in 2023 - geared towards consumer protection.
View original content:https://www.prnewswire.co.uk/news-releases/usa-casinocom-report-2022-global-casino-industry-fines-reached-128m---up-166-301712407.html