BGO Entertainment Limited
Guernsey, GY9 3UL, United Kingdom
What is a settlement?
Following an investigation into a licence holder we may enter into a regulatory settlement. These take place, for example, where the licence holder has been open and transparent with us and has shown a willingness to suggest actions that prevent the need for a more formal sanction.
Decision date: 28 October 2020
Outcomes: Payment in lieu of financial penalty, Public statement, Variation to apply conditions to licence and Commission costs
Details of action
BGO failed to have effective policies and procedures in place for customers who may be displaying signs of problem gambling between 25 September 2018 and 23 March 2020. It also failed to have effective and adequately resourced anti-money laundering controls in place between 25 September 2018 and 21 July 2020.
BGO acknowledges that the policies relating to AML and customer interaction in force at the relevant time were ineffective. BGO recognises there have been considerable learnings from these cases and has invested in improving its AML and responsible gambling processes. BGO states it is also committed to working with the industry to raise standards, particularly in relation to safer gambling.
In line with our Statement of principles of licensing and regulation, BGO has a agreed a regulatory settlement. The regulatory settlement consists of:
- agreement to a variation of their licence
- £2,000,000 payment in lieu of a financial penalty, which will be directed towards delivering the National Strategy to Reduce Gambling Harms
- Agreement to the publication of a statement of facts in relation to this case
- Payment of £31,023.87p towards investigation costs.
Agreement to the publication of a statement of facts in relation to this case - with the news story/ public statement being linked off the "a statement of facts".