By The Weekly Edge desk · · Updated
IG Group has applied to the UKGC for a sports betting licence, EGR reported. The application follows its acquisition of US prediction market Underdog earlier this year.
IG Group’s sports betting licence application follows its acquisition of US prediction market Underdog.
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The settlement requires Rank Group’s casino operators to pay £5m and undergo independent scrutiny of their money laundering and safer gambling controls.
The settlement subjects Rank’s casino operators to a £5,012,261 payment and external scrutiny of their AML and social responsibility controls.
Rank’s £5m settlement highlights regulatory consequences of missing source-of-funds checks, responsible gambling interventions and required enhanced customer checks.
The Commission’s policy, research, statistics and National Lottery regulation functions will be led by a senior DCMS gambling and lotteries leader.
Entain’s additional licence conditions require board oversight of improvements and an independent compliance audit within 12 months.
The settlement imposes a financial cost on Rank Group’s casino operations for anti-money laundering and player protection failures.