William Hill fined £6.2m over money laundering failures by Gambling Commission


Ian Sutton/Flickr

(qlmbusinessnews.com via news.sky.com– Tue, 20 Feb, 2018) London, Uk – –

Ten customers were allowed to deposit large sums of money linked to criminal offences, the Gambling Commission said.

William Hill has been fined £6.2m by regulators over money laundering and problem gambling failures.

It is the second biggest penalty ever levied by the Gambling Commission and the largest in relation to money laundering.

The regulator said 10 customers were allowed to deposit large sums of money linked to criminal offences.

It said William Hill did not seek information about the source of the funds or establish whether they were problem gamblers.

The commission said senior management at William Hill “failed to mitigate risks and have sufficient numbers of staff to ensure their anti-money laundering and social responsibility processes were effective”.

Gambling Commission executive director Neil McArthur said: “This was a systemic failing at William Hill which went on for nearly two years and today’s penalty package reflects the seriousness of the breaches.

“Gambling businesses have a responsibility to ensure that they keep crime out of gambling and tackle problem gambling – and as part of that they must be constantly curious about where the money they are taking is coming from.”

The regulator identified failures taking place between November 2014 and August 2016.

On one occasion, a customer who was funding his gambling habit by stealing from his employer was allowed to deposit £541,000 over 14 months.

An operator had made the assumption, after a chat with the customer, that he was earning as much as £365,000 a year – when in fact he was on a salary of £30,000, the commission said.

In another instance, a customer deposited £653,000 over 18 months, during which he triggered an “amber risk” alert which should have seen his file passed to managers for review.

This did not occur due to a “systems failure” and the customer was allowed to gamble for a further six months despite continuing to activate financial alerts, the regulator said.

William Hill will pay a penalty of £5m plus return £1.2m – the amount it gained through the rule breaches – to people affected by crime linked to the breaches.

Chief executive Philip Bowcock said the company had fully cooperated with the commission and introduced “new and improved policies and increased levels of resourcing” as well as launching an independent review of its processes.

He added: “We are fully committed to operating a sustainable business that properly identifies risk and better protects customers.”

Online gambling firm 888 was handed a £7.8m penalty last year for “significant flaws” in its safeguarding of customers.

By John-Paul Ford Rojas, Business Reporter

 

 

Will Smith shares his success philosophy

 

He’s the only actor to have eight consecutive films gross over $100 million in the domestic box office. He has been ranked as the most bankable star worldwide by Forbes. As of 2016, his films have grossed $7.5 billion at the global box office. For his performances in Ali, and in The Pursuit of Happyness, Smith received nominations for the Academy Award for Best Actor. He has won four Grammy Awards. He turned down the role of Neo in The Matrix in favor of Wild Wild West. In 2005, Smith was entered into the Guinness Book of World Records for attending three premieres in a 24-hour time span.

 

 

 

Manchester United undisputed world’s richest top earning football club

 

(qlmbusinessnews.com via news.sky.com– Tue,23 Jan, 2018) London, Uk – –

An annual money league sees Jose Mourinho’s United side being chased down for the top spot by Real Madrid and Barcelona.

Manchester United have retained their crown as the word’s leading football club for revenue generation, according to an annual league table.

According to the Money League, compiled by Deloitte, the club is being chased down by the two richest sides in Spain – with Real Madrid overtaking Barcelona in the chasing pack in the 2016/17 rankings.

The league is determined by revenue generation, with United netting £581.2m over the 12 months compared to £515.3m in the previous season.

The report said winning European football’s second-tier club championship, the Europa League, was “critical” to Jose Mourinho’s side coming out on top for a second year as they picked up €44.5m from UEFA in the process.

Real won both the Champions League and La Liga titles in the season – helping them leapfrog rivals Barca to achieve revenues of £579.7m and £557.1m respectively.

All the top 20 clubs are European but Premier League sides dominate – largely a result of broadcast revenues from the three-year £5.1bn TV rights deal with Sky, the owner of Sky News, and BT.

Manchester City and Arsenal were 5th and 6th while Chelsea and Liverpool also featured. The are 10 Premier League sides in the top 20.

Deloitte said the gulf of just £1.5m between the top two clubs was the smallest recorded by its team.

Combined revenue for the top 20 sides grew 6% to a new record sum of €7.9bn (£6.94bn).

Dan Jones, a partner in Deloitte’s Sports Business group, said: “European football continues to flourish financially, with almost half a billion euro of revenue growth for the top 20 Money League clubs.

“United’s ability to retain first position is all the more impressive against the backdrop of the weakened pound against the euro, and with both Real Madrid and FC Barcelona forecasting further revenue growth in 2017/18, the battle at the top will likely come down to on-pitch performance again next year.

“With all three clubs through to the Round of 16 of the UEFA Champions League, it may be as simple as the club that goes furthest in the competition will have the best chance of topping the Money League next year.”

:: The top 20 clubs as determined by revenue in 2016/17:

:: 1 Manchester United £581.2m
:: 2 Real Madrid 579.7m
:: 3 FC Barcelona £557.1m
:: 4 Bayern Munich £505.1m
:: 5 Manchester City £453.5m
:: 6 Arsenal £419m
:: 7 Paris Saint-Germain £417.8m
:: 8 Chelsea £367.8m
:: 9 Liverpool £364.5m
:: 10 Juventus £348.6m
:: 11 Tottenham Hotspur £305.6m
:: 12 Borussia Dortmund £285.8m
:: 13 Atletico de Madrid £234.2m
:: 14 Leicester City £233m
:: 15 Internazionale £225.2m
:: 16 Schalke 04 £197.8m
:: 17 West Ham United £183.3m
:: 18 Southampton £182.3m
:: 19 Napoli £172.5m
:: 20 Everton £171.2m

By James Sillars, Business Reporter

CES 2018: internet-connected Wine Bottle Opener

 

Coravin has unveiled an internet-connected version of the cork-sealing gadget it makes to preserve bottled wine. By linking the Model Eleven to an app, the US firm says it has been able to introduce several new features. These include the ability to match vintages with classic rock albums. The BBC’s Chris Foxx was given a demo at the CES tech show in Las Vegas.

 

 

Lego tower in Tel Aviv set to be a record breaker at 36-metres tall

 

A 36-metre tall Lego tower has been erected in Tel Aviv in memory of a young cancer victim.

“Omer Tower” is named after 8-year-old Lego fan Omer Sayag who died in 2014.

The multi-coloured structure, which was completed on Wednesday (December 27), took two weeks and more than 500,000 plastic blocks to build.

Now standing in Tel Aviv’s Rabin Square, the tower was constructed using cranes and the help of thousands of volunteers under a project launched by Omer’s teachers just over a year ago.

The structure is still awaiting Guinness World Records verification, but at a reported 36 metres, it is expected to be confirmed as the world’s tallest lego tower.

Top 15 Gift Ideas for the Holiday Season

 

Alux/youtube

Now that the holiday season is here how about giving some of these amazing gift ideas to your loved one. We are sure you will find something to suit everyone, so what are you waiting for, let the shopping spree begin.

15 Best Holiday Gift Ideas For Your Loved Ones https://www.youtube.com/channel/UCNjP… 15 Books Everyone Should Read: https://www.youtube.com/watch?v=Dk9mc… Here are the products mentioned in the video: 1: A quality Bathrobe ($55 ) For Her: http://amzn.to/2i0tDR6 ($55 ) For Him: http://amzn.to/2nftkav ($260) For Her: http://amzn.to/2juwEJU ($270) For Him: http://amzn.to/2AjplN2 Bonus ($2000) Unisex: http://amzn.to/2j3SOU7 2: Quality Headphones ($350) Bose Noise Cancelling: http://amzn.to/2Akws7S ($350) Beats Studio3: http://amzn.to/2AdEgua 3: Vinyl record player ($40) http://amzn.to/2nerk2B ($299) http://amzn.to/2i2GBho 4: A Cashmere Scarf For her: http://amzn.to/2jvnEEw For him: http://amzn.to/2Aeaju8 5: GoPro Hero 6: http://amzn.to/2AkxgcU Fusion: launching today.. will update this when it’s available 6: A Travel Bag Cheap: http://amzn.to/2Af6GUH Expensive: http://amzn.to/2ngefp8 7: A premium blend of coffee Pick one: http://amzn.to/2i1c2bM 8: Festival Tickets for Next Year This one’s on you to find the tickets. 9: A set of 5 Books We did an entire video on this: https://youtu.be/Dk9mcJtIuCs 10: A Masterclass or a Training Course Masterclass: https://www.masterclass.com/ 11: D.J.I. Spark Drone Spark: http://amzn.to/2i1Bs9u Mavic: http://amzn.to/2Aihrnl 12: Quality Sunglasses RayBans: http://amzn.to/2ncNFxn 13: A Swiss Knife Victorinox: http://amzn.to/2jxxCoW 14: A Board Game Cards Against Humanity: http://amzn.to/2i16UVd Alias Men Vs Women: http://amzn.to/2AigKNj 15: A Premium Bottle of Champagne Moet & Chandon: http://amzn.to/2i0A1I4 Dom Perignon: http://amzn.to/2jvVLvL Bonus Gift Ideas for Men & Women Whiskey or Wine Glasses: http://amzn.to/2AjCTby A Machete: http://amzn.to/2AfBhBu Coffee Table Book: http://amzn.to/2jwyz0n 

Google Home Mini: http://amzn.to/2AflxhT

Mario Kart fans take to the streets of Tokyo in costumes and go-karts

 

MariCar offers video gamers and Nintendo fans alike the opportunity of a lifetime: taking a spin on the streets of Tokyo in costumes and go-karts inspired by Nintendo’s legendary Mario Kart franchise. NOTE: This is a 360 video. To change your view, click and drag (or swipe on mobile)

Cineworld to buy Regal in £2.7bn deal making them second largest cinema operator

wikimedia.org

(qlmbusinessnews.com via independent.co.uk – – Tue, 5 Dec 2017) London, Uk – –

Cineworld has announced that it is snapping up its US peer Regal for $3.6bn (£2.7bn), turning the British company into the second largest cinema operator in the world, with over 9,500 screens.

In a statement on Tuesday, Cineworld said that the deal would create a globally diversified cinema operator, spanning ten countries and would allow Cineworld to access the North American cinema market – which is the largest box office market in the world.

The US cinema market has had an industry box office worth in excess of $10bn in each year since 2008 and stable admissions in excess of 1.25 billion in each year over the same period, Cineworld said.

“We have long had high respect for Regal and for its strong position in the largest box office market in the world and we are delighted that the Regal directors have unanimously agreed to recommend our offer to their shareholders,” said Mooky Greindinger, chief executive of Cineworld.

“Consolidation is an important move forward and the best practice we have successfully rolled out across Europe will be the key driver to continued success,” he added.

Amy Miles, CEO of Regal, said that she believes the transaction “provides compelling value for our stockholders”.

“We believe this partnership with Cineworld will enhance Regal’s ability to deliver a premium movie-going experience for customers and further build upon our strategy of introducing innovative concepts and premium amenities designed to enhance the value of our theatre assets,” she said.

Cineworld was founded in 1995. It was originally a private company but re-registered as a public company in May 2006 and listed on the London Stock Exchange in May 2007.

On Tuesday it said that it expects the deal to be “strongly accretive to earnings” in the first full year following completion of the transaction, which will be 2019.

The deal will be funded by a rights issue, which will raise approximately £1.7bn, and a debt issue.

Because of the size of the acquisition, Cineworld said that it will be classed as a reverse takeover under the listing rules of the Financial Conduct Authority. As such it will be conditional on the approval of Cineworld’s shareholders at a general meeting which is expected to take place in February next year.

Cineworld added, however, that board intends to unanimously recommend the deal.  The directors of Cineworld also intend to vote in favour of it, the group added.

Separately, Cineworld said that the Anschutz Corporation, which controls about 67 per cent of the voting rights in Regal, has agreed to provide its written consent to approve the takeover.

By Josie Cox

Channel 4 to compete with digital ad giants Facebook and Google

(qlmbusinessnews.com via telegraph.co.uk – – Tue, 14 Nov, 2017) London, Uk – –

Channel 4 has teamed up with three European commercial broadcasters to book pan-European advertising campaigns, allowing it to take on digital ad giants Facebook and Google for the first time.

The European Broadcaster Exchange, which comprises of Channel 4, Germany’s ProSiebenSat.1, France’s FT1 and Mediaset, which operates in Italy and Spain, will launch early next year.

Each of the parties will hold a 25pc stake in the new joint venture, which will compete for pan-European digital advertising campaigns, running those campaigns across their “on-demand” online streaming services.

Channel 4 said the venture allows it to “enter the pan-European digital ad sales market for the first time”.

The broadcaster, home to The Great British Bake Off and First Dates, last year saw its digital revenues rise 25pc on 2015. It said its on-demand platform, All 4, now had 16m registered viewers, of which more than half are in the 16-34 age category.

However, as both Facebook and Google continue to eat up more of the digital advertising market, currently accounting for more than half the UK’s market, more traditional media players are seeking new ways to attract advertisers.

Research from eMarketer in September showed the Silicon Valley firms were together expected to attract £6.3bn of UK advertising spend this year, and even more next year.

However, in recent months, both Facebook and Google have been subject to criticism for running adverts paid for by Russian agents to influence the US presidential election. Earlier this year, a number of brands pulled adverts from Google’s YouTube video site after their ads appeared alongside extremist content.

Speaking about the new venture, Channel 4’s head of digital & partnership innovation, Jonathan Lewis said the “demand for multi-territory digital ad campaigns in brand safe and transparent environments is increasing as the programmatic video ad market continues to grow exponentially across Europe”.

By