In the United Kingdom and the operator behind the Park Lane Club London has been hit with a fine of £1.8 million ($2.2 million) after the Gambling Commission regulator determined that the venue had failed to adequately comply with anti-money laundering and social responsibility procedures.
The regulator used a September 11 press release to detail that it had levied the penalty against Silverbond Enterprises Limited following a thorough investigation and that the censure had also encompassed an official warning and the addition of further conditions to the London-headquartered operator’s land-based casino license.
Located inside the Hilton Park Lane Hotel in the heart of the capital city’s exclusive Mayfair neighborhood, the two-story Park Lane Club London is a private-members venue offering a selection of high-end blackjack, roulette and baccarat games with maximum stakes of up to £100,000 ($124,700). Punters may also enjoy a collection of electronic roulette and jackpot slots as well as a trio of private gaming salons complete with an in-house dining and drinks service.
The Gambling Commission declared that it had penalized the London property after identifying a number of ‘social responsibility’ shortcomings including a failure in being able to sufficiently identify ‘the indicators of potential problem gambling’ such as violent customers as well as punters asking to increase the amount of cash that could be deposited via check. The British regulator stated that staff inside the Park Lane Club London had moreover exhibited anti-money laundering deficiencies by not detailing how such policies were being implemented and ‘failing to carry out enhanced due diligence on 61 customers.’
As part of its official reprimand, the Gambling Commission proclaimed that it had additionally handed out formal warnings to a pair of Park Lane Club London’s personal management license holders alongside informing the duo that ‘they must improve their record on protecting players and preventing money laundering.’
Read a statement from the Gambling Commission…
“The Gambling Commission recognizes that the licensee cooperated throughout the review process, accepted the failings at the preliminary assessment state and offered a financial settlement together with a summary of the action it was now taking. This included appointing additional staff to support its current money laundering reporting officer.”