British online casino games developer Playtech has reportedly announced that it will be making a charitable donation worth £3.5 million ($4.3 million) as part of an effort to take ‘full responsibility’ for the shortcomings of its former PT Entertainment Services (PTES) Limited subsidiary.
According to a Thursday report from the Racing Post newspaper, the Isle of Man-headquartered firm revealed that the cash will be given to various charities tackling gambling-related harm and is to be joined over the course of the next five years by analogous contributions totalling an additional £5 million ($6.1 million).
The newspaper reported that the news comes after an official Gambling Commission investigation determined that PTES Limited, which was previously responsible for running the iGaming domains at TitanBet.co.uk and Winner.co.uk, had been deficient in its social responsibility and anti-money laundering protocols. These shortcomings revealed earlier this week were purportedly said to have played a major role in the 2017 suicide of one young British man, Chris Bruney, who had run up debts with the sites worth approximately £34,000 ($41,690).
These various infractions could have resulted in London-listed Playtech being hit with a fine of up to £3.5 million although it subsequently escaped any such a sanction due to the fact that it had closed down its PTES Limited enterprise prior the initiation of the Gambling Commission’s inquiry.
Mor Weizer (pictured), Chief Executive Officer for London-listed Playtech, reportedly told the Racing Post that his firm was now endeavoring to take ‘full responsibility’ for PTES Limited’s historical deficiencies even though the subordinate’s United Kingdom iGaming license had been surrendered in October.
Weizer reportedly declared…
“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 Gambling Commission.”
For her part and Claire Milne, the newly-installed Interim Chairman for Playtech, reportedly declared that she would be contacting Bruney’s family to personally apologize for the failings at PTES Limited as these were not representative of its parent today.
Reportedly read a statement from Milne…
“The findings of this investigation do not reflect where Playtech stands today. But while the company has made many positive and important changes, we feel it is only right for us to recognize these historic failings by offering this increased amount. Through this action, we want to send a message to them and the wider industry of who we are today and aspire to be.”