Social responsibility compliance under the microscope
The UK Gambling Commission (UKGC) is investigating 888 Holdings’ UK subsidiary to determine whether they are fulfilling their social responsibility obligations to players.
UKGC license holders are required to offer a variety of options to players to help them manage their gambling.
One such tool is self-exclusion, which allows the player to exclude themselves from gambling for a specific amount of time — usually a six month minimum.
A shorter-term option is the “time-out” feature which allows customers to block themselves from gambling for a shorter period of time — usually anywhere between 24 hours and a few weeks.
When 888 Holdings announced the review earlier this morning, the company’s shares fell 10% but have since “picked up to a 7.6% decline” according to The Financial Times.
If 888 has been found to have failed to uphold their social responsibility obligations, and depending on the severity of the failures, they could be looking at anything from a hefty fine to the loss of their UK license.
888 Holdings say they will be cooperating with the UKGC throughout the review process while the Gambling Commission refuses to comment on an ongoing review.