Betting company GVC rebrands, Boylesports runs into trouble with the UKGC and more
Boylesports, Ireland’s largest company specializing in bookmaking, has been exposed for their many failed attempts at money laundering for which a string of firmer licence conditions were imposed on them by the UK Gambling Commission, accompanied by a £2.8m financial penalty.
An investigation took place revealing a breach of rules that were meant to prevent money laundering on both their websites: boylesports.com and boylecasino.com. It was also reported that they had not respected the Money Laundering Regulations, and that their policies and procedures against money laundering could not be successfully executed seeing as they were deemed unsuitable.
The company also did not have any type of money laundering risk assessment.
GVC Holdings, one of the world’s largest sports betting platforms, has rebranded, changing its name to Entain and quitting all unregulated markets.
This does not come as a surprise as the company has had a new change in leadership, clearly wanting to rebrand as a fresher and more innovative firm. The company has committed to becoming more sustainable, stating that “the most sustainable business in our industry will be the most successful”, as well as ensuring customer protection through new technology.
This new identity will provide the British company with a second chance to become the leading platform in sports betting and gaming.
The group has vowed to solely focus their attention on regulated markets to pave the way for a safer and more responsible industry. They have also pledged to donate £100 million over the course of five years )Which will include a new “Pitching In” programme to support grassroots sports, a term used to reference the lowest form of games), as well as to reduce EBITDA in the upcoming year by $40 million.
The annual Safer Gambling Week campaign has amassed the support of Minister for Sport, Tourism and Heritage Nigel Huddleston and Gambling Commission chief executive Neil McArthur, who have both confirmed the department’s approval of the initiative. The campaign was launched in 2017 as an attempt to promote safer and more responsible gambling, and allow people to gamble without exposing themselves or others to certain risks.
The campaign will be taking place over the course of a week from November 19 to 25. It is foreseen that over 9000 gambling platforms will be participating, as well as over 100 000 staff members.
All participants of the campaign will have access to promotional posters, contact cards, brochures, and all sorts of Safer Gambling Week 2020 artwork.
It was announced that six different messages will be represented, with contact points for each one providing free, off-the-record advice and help for anyone seeking it.
The messages are the following:
- Ask yourself… have you carried on past your spending limit?
- Just a heads up… it’s good to set yourself limits.
- Just a heads up… it’s easy to lose track of time when gambling.
- Play smart… know when to stop.
- Remember… friends and family are more important than gambling.
- Remember… gambling is not a way to make money.
The 17-day firebreak lockdown has ended in Wales following a surge in COVID-19 cases over the past few weeks.
The Welsh government has been targeting the pandemic with a scientific approach by implementing strict measures to contain the spread of the deadly virus.
The reopening of casinos and betting shops has been announced by the Betting and Gaming Council, with several new restrictions to provide utmost safety to players. 2000 employees across Wales will be returning safely to work and 360 bookmakers, alongside four casinos, will be back in business soon.
England is currently in a nation-wide lockdown as COVID cases skyrocket. Casinos and betting shops are forced to close down for now. Even before the lockdown, no matter how strict their COVID prevention measures were, England’s casinos had to close at 10 pm.
The global pandemic has negatively affected many industries and institutions, a fact that is evident in the case of Great Canadian Gaming, Canada’s leading gaming and entertainment provider. The company’s performance has severely dropped as of late, forcing the firm to sell out to Apollo Global Management in a $2.5 billion deal.
The agreement between both sides states that Apollo will be taking over the common stock shares of Great Canadian Gaming, valued at around $29.80 per share.
Apollo has stated that other Canadian institutions are welcome to co-invest and become equity owners in Great Canadian. A new Canadian team will be leading the company alongside Canadian board members, while headquarters will remain in Toronto even after the transaction.