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Posts Tagged ‘Fine’

888 Ordered to Pay Over $10 Million Fine for Technical Failure

One of the biggest things mentioned about a regulated online gaming industry is that, if a business goes awry of the regulations, there are methods of punishment that can be administered. A case in the United Kingdom against one of the biggest online gaming and poker companies in the industry is a clear demonstration of this fact. According to the BBC, 888 Holdings, the operators of the popular 888Poker, a very reputable sports book and online casino (among other things), has been ordered by the British Gambling Commission to pay a £7.8 million (slightly more than $ 10 million U. S. dollars) for not adhering to protect at-risk customers. According to the Gambling Commission, there were “significant flaws” in a technical segment of the 888 software that failed to reject about 7000 players who had “self-banned” themselves from being able to bet on the site. Reuters went into further detail

Sheldon Adelson’s Las Vegas Sands Corp. Settles Corrupt Practices Probe, Pays Fine

The Las Vegas Sands Corp., headed by online poker’s top enemy, Sheldon Adelson, has agreed to pay a $ 6.96 million criminal penalty to settle a federal case in which the government was investigating the company’s potential violations of the Foreign Corrupt Practices Act (FCPA). The issue at hand stems back nearly seven years to 2010, when Steven Jacobs, who headed up Las Vegas Sands’ business in China for nine months, sued the company for unlawful termination. As Bloomberg.com worded it, Jacobs “accused Adelson of directing him to collect evidence on Macau government officials that could be used to ‘exert leverage’ on them to thwart regulation unfavorable to Sands casinos.” The FCPA, rightfully, says it is illegal for companies and their executives to try to bribe foreign government officials. The one caveat here is that I believe Donald Trump is permitted to do this, especially now that he is President.

Hialeah Park to Pay Large Fine in 2015 Tournament Fiasco, Real Perpetrators Get Away

Wrapping up a fiasco that dates back to last summer, Florida gaming officials are expected to hand down a massive fine against one of the state’s most popular poker rooms. The fine is the result of a tournament that still has several question marks as to the integrity of the event and the racetrack where the poker room is located is not answering any further questions on the subject. The situation dates back to the last week of August 2015, when the Hialeah Park Poker Room was allegedly holding a poker tournament to celebrate its second year of existence. The tournament, a $ 250 buy in event with a $ 200,000 guaranteed prize pool and a first place guarantee of $ 60,000, drew in competition from other poker rooms across Southeast Florida as players were drawn to the sizeable prize pool. According to Florida gaming journalist Nick Sortal, one of