Gambling Commission puts the boot into 888 with fresh probe

The chips were down for online poker and casino firm 888 on Monday as the UK’s Gambling Commission launched a review of its operating licence.

Investors in the business, which sponsors a host of Championship clubs including Brentford, were nursing losses of 21.25p, or 7%, to 276.75p as the City digested the news.

Possible sanctions range from a warning to withdrawal of the operating licence.

The commission is focusing on how 888 “ensures social responsibility to its customers” including the use of self-exclusion which gamblers can use to take a break from betting.

The commission has a track record for fining betting firms after licence reviews: last year Gala Coral was ordered to repay £846,000 to the victim of one of its customers, who stole the cash to keep gambling.

Privately owned Betfred also paid an £800,000-plus fine last year.

Peel Hunt analyst Ivor Jones said: “It is probable that a fine and some change in business practices will result. It appears this public process is the commission’s preferred way of regulating gambling and fines and bad publicity are part of the cost of doing business.”

888 said it would be “proactively engaged in a co-operative and collaborative manner” with the commission throughout the review.