Playtech takes full responsibility over PTES failings. Playtech has issued an apology for the failings of its PT Entertainment Services (PTES) subsidiary.
A customer signed up for an account in December 2016, leading to a spending of £4.5m (€5.0m/$5.5m) on PTES’ Winner and Titanbet brands. The customer then lost £119,395 between 1 to 5 April 2017 alone, before committing suicide.
The UK Gambling Commission’s investigation then took action only to uncover widespread failings in the business’ social responsibility and anti-money laundering processes that resulted in no action taken over the individual’s excessive gambling.
More Weizer, Chief Executive of Playtech, expressed “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. 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” he 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.