Videoslots Limited to pay £2m for regulatory failures

15 June 2023

Videoslots Limited will pay £2 million after social responsibility and anti-money laundering failures were uncovered during a Commission investigation.

The operator – which runs videoslots.com, videoslots.co.uk and mrvegas.com – will pay the money as part of a settlement with the Commission.

Social responsibility failures included:

• not ensuring that customers displaying risk behaviours were identified as potentially experiencing harm because responsible gambling reviews were not undertaken as early, or as well, as they should have been.

• failing to identify whether a customer was at risk of experiencing harm by not considering whether the amount being deposited or lost was appropriate.

• allowing customers showing indicators of harm to continue to gamble significant amounts after interactions despite their behaviour continuing.

Anti-Money Laundering (AML) failures included:

• not implementing its own risk-based processes appropriately due to significant delays in conducting the required action, such as an AML review or request for source of funds following a trigger in its processes.

• not fulfilling elements of customer due diligence as early as intended in accordance with its own risk-based approach.

• not having sufficient AML analysts to process the volumes of data or undertake the AML account reviews in accordance with its procedures.

All £2 million of the settlement will go to socially responsible causes.

More details of the failings can be read in public statement.

Public statements

Videoslots Limited Public Statement

Published: 15 June 2023

Read the public statement

Note to editors

Journalists can contact our press office on 0121 230 6700 or email: communications@gamblingcommission.gov.uk

For all media enquiries, please contact the Gambling Commission press office.

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Last updated: 15 June 2023

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