July 31, 2019 / 8:48 AM / 20 days ago

GVC fined 5.9 mln pounds for failings at Ladbrokes

July 31 (Reuters) - Britain’s GVC said on Wednesday it would pay 5.9 million pounds ($7.18 million) to settle an investigation by the Gambling Commission into failings at Ladbrokes Coral, including not safeguarding consumers from gambling harm.

GVC agreed to buy bookmaker Ladbrokes Coral for up to 4 billion pounds in 2017.

The Gambling Commission found that Ladbrokes and Coral failed to put in place effective safeguards to prevent consumers suffering gambling harm and against money laundering between Nov. 2014 and Oct. 2017, the National Lottery Commission said.

$1 = 0.8222 pounds Reporting by Tanishaa Nadkar in Bengaluru; Editing by Anil D'Silva

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