IoM gaming group fined £5.9m for compliance 'failings'

Ladbrokes and Coral parent company GVC picks up previous penalty

An Isle-of-Man-based gaming group has been hit with a penalty of nearly six million pounds, after failing to block people with a known gambling habit.

The UK regulator says the owner of Ladbrokes and Coral betting stores also didn't make sufficient checks to prevent money laundering.

The parent company, GVC, based in Athol Street in Douglas, admits the compliance failures were unacceptable, and insists it has made changes.

It adds that the failings took place prior to its acquisition of Ladbrokes and Coral in March last year.