Aspers (Stratford City) Limited
Following a review of Aspers (Stratford City) Limited’s (“the Licensee”) operating licence, the Commission found it breached the following conditions applicable to its operating licence:
- paragraphs 2 and 3 of licence condition 12.1.1 (anti-money laundering, prevention of money laundering and terrorist financing);
- paragraph 1 of social responsibility code provision (SRCP) 3.4.1 (customer interaction); and
- paragraphs 1 and 2 of licence condition 5.1.1 (cash and cash equivalents).
The Licensee also failed to take into account ordinary code provision (“OCP”) 2.1.1 (anti-money laundering – casino).
The Commission has determined to exercise its powers under section 117(1) of the Act. The Licensee has been given a warning under section 117(1)(a) and a financial penalty has been imposed under section 121(1) of the Act in the sum of £1,800,000. The level of the financial penalty has been reduced to £652,500 in light of the Licensee’s particular financial circumstances.
The Licensee has also agreed: to divest itself of the GGY which occurred as a result of its failings in the sum of £78,233 and has undertaken to carry out a follow-up independent audit of relevant policies and procedures within six months to ensure the improvements recommended by the Aspers Group’s Internal Report have been made and are effective.