British online casino games developer Playtech to make charitable donation worth £3.5 million
British online casino games and sports betting software developer PlayTech has announced its decision to make a charitable donation worth £3.5 million (US$4.3M) as part of an effort to take full responsibility for the inadequacies of its previous PT Entertainment Services (PTES) Ltd. subsidiary.
The Isle of Man-based software developer revealed that the amount will be donated to a number of charities that have been working day and night to tackle gambling-related harm. The developer further added that the aforementioned amount of charitable donation will joined by analogous contributions worth additional £5 million (US$6.1M).
The reported announcement of the charitable donation by Playtech surfaced after an official Gambling Commission investigated PTES Ltd. and found that there were inadequacies in its social responsibility as well as anti-money laundering practices. Those inadequacies or shortcomings, which were revealed a few days back, allegedly played a role in the suicide of one young man in the United Kingdom in 2017. The victim, identified as Chris Bruney, committed suicide after compiling debts worth more than £34,000 (US$41,690).
Mor Weizer, Chief Executive Officer of Playtech, said his company was now ready to take full responsibility for PTES’ deficiencies that allegedly prompted Bruney to commit suicide, even though it had surrendered the license for that enterprise in October last year.
Claire Milne, Interim Chairman for the London-listed company, said that she would contact Bruney’s family to personally apologize for the shortcomings of PTES Ltd.
In a newly released statement, Milne said, “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.”
The company representatives also stressed that the software developer has invested significant resources in the recent past to make sure that no violations or breaches could take place again. They also assured that the company would take all necessary steps to address the specific issues that were raised by the gambling regulators.
The numerous violations could have resulted in the London-listed software developer being hit with a hefty fine of up to £3.5 million, but it subsequently escaped the fine or any type of other sanction because of the fact that it had closed down the PTES Ltd. enterprise before the commencement of the Gambling Commission’s inquiry.