Playtech has issued an apology for the failings of its PT Entertainment Services (PTES) subsidiary.
The case saw a customer sign up for an account in December 2016, ultimately spending £4.5m (€5.0m/$5.5m) on PTES’ Winner and Titanbet brands – losing £119,395 between 1 to 5 April 2017 alone – before committing suicide.
The UK Gambling Commission’s investigation uncovered widespread failings in the business’ social responsibility and anti-money laundering processes that resulted in no action being taken over the individual’s excessive gambling.
“We take full responsibility for these regulatory breaches. As a technology specialist, Playtech focuses on harnessing its capabilities in data-driven intelligence to place consumer protection at the centre of every stage of the player experience from game design to real-time engagement and messaging,” More Weizer, Chief Executive of Playtech, said.
“In recent years, we have invested significantly to seek to ensure that these types of breaches do not happen again, including addressing the specific issues raised by the Commission,” More Weizer added.
Playtech’s board extended its “deepest sympathies” to the victim’s family. Its interim chair, Claire Milne, will be contacting the family to apologise personally for the B2C subsidiary’s failings.