The LSE-listed business, which owns the Grosvenor Casino, Mecca Bingo and Enracha brands, revealed in its full-year results in August that it had already set aside this exact amount of money in anticipation of a settlement, and therefore it will have no impact on group profits and has not caused a drop in Rank Group shares.
It continues a recent clampdown on AML failings by the Commission. Bet St George and BresBet recently had their licences suspended and later ceased trading due to the same missteps, Ken Howells has also had its licence suspended, while QuinnBet was ordered to pay £609,104.
All of these cases have followed the Commission placing the UK’s gambling software sector at a ‘medium risk’ of money laundering and terrorist financing in early August.
Sue Young, Executive Director of Operatio..