GIBRALTAR, GX11 1AA, Gibraltar
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: 20 June 2018
The Commission undertook an investigation into 32Red as it was found that there were weaknesses in its responsible gambling and anti-money laundering controls, which meant that licence conditions were breached. As a result, 32Red agreed to a penalty package totalling £2mil, consisting of:
- £709,046 divestment of the financial gain;
- £1.3mil payment in lieu of a financial penalty, which we would otherwise impose for breaches of a licence condition in accordance with the Commission’s Statement of principles for determining financial penalties;
- Payment of £15,000 towards the Commission’s investigative costs
- Improvements to policy, procedure and risk management.
For more information on this case, please see the Gambling Commission's website.