Home » The Case of the Robbery of £ 1M to Gambler by Ladbrokes Coral Has Not Yet Concluded
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The Case of the Robbery of £ 1M to Gambler by Ladbrokes Coral Has Not Yet Concluded

Ladbrokes Coral, the gambling and gaming company based in Great Britain, seeks to escape a fine for bribing a troubled player who stole £ 1,000,000. The company offered compensation to prevent the case from being reported to the regulator.

The operator began to be investigated by the British Gaming Commission after it was revealed that he persuaded the troubled player Tony Parente, and other people Ladbrokes admitted to having cheated, to sign a confidentiality agreement (NDA).

The British regulator issued “guidance” aimed at gaming companies about the use of NDA.

He also told the Parente player to be

“satisfied that the NDA of which you were a signatory did not violate any of our licensing conditions or regulatory requirements.”

To convince Parente not to report, Ladbrokes filled the addicted player with expensive gifts for two years who had lost up to £ 60,000 per day, money that had been stolen as it later admitted.

“Until we reformulate the gambling regulations in this country, the industry will continue to exploit and exempt vulnerable players from rescuing,” Labor MP Carolyn Harris said about the decision not to fine Ladbrokes by the NDA and indicated that this evidenced that Commission was not fulfilling its role.

Harris added that the commission had been “complicit in what is really abuse: of power and of individuals.

The commission for its part stated that:

“In this particular case, the operator informed the full details and since then we have issued advice on their conduct regarding the NDA. We have also ensured that all future NDAs clarify that the parties to the agreement can inform the relevant regulator.”

However, Ladbrokes has not yet escaped the possible fine for convincing Parente to continue playing with free money and other gifts that included the return of lost money and bonuses.

“We still have to conclude all matters related to this individual and we cannot comment further at this stage,” the commission said.

Source: https://europeangaming.eu/portal/latest-news/2019/10/28/57348/ladbrokes-coral-escapes-fine-for-secrecy-over-gamblers-1m-theft/

About the author

Santiago Contreras

Santiago Contreras

I am a professional journalist dedicated to tracking news related to the stock market, business, finance, blockchain and economics. It is a hobby that I share with sports in general, with special attention to tennis, basketball and soccer. I like to offer our readers relevant, entertaining and useful content to help them inform themselves and make decisions every day. Thanks for reading me!

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