Entain-owned gambling brand BetCity Netherlands has been hit with a €3m ($3.3m) financial penalty in the Netherlands. [Image: Shutterstock.com]

BetCity, which Entain took over in January for an initial price of €300m ($327m), has been fined in the Netherlands for €3m ($3.3m). The Dutch gambling regulator issued the fine on Thursday as a result of violations of the Anti-Money Laundering and Anti-Terrorist Financing Act.

Operators in the country’s regulated market have to monitor all transactions of users and report any that appear to be unusual. One of BetCity’s specific failings was not looking into the source of funds for players who generated big losses, including one instance when a user lost €110,000 ($120,000) in a single month.

The Dutch regulator had warned BetCity in September 2022 about potential failings and Entain was aware of these issues before taking over. The latest offenses took place from December 2022 to February 2023.

has since made the necessary improvements to its frameworks

BetCity has since made the necessary improvements to its frameworks to ensure that future issues don’t occur. Entain noted the full cooperation with the Dutch regulator and underlined its commitment to staying in line with relevant regulations in all markets in which its brands operate.

This is just the latest financial penalty that Entain has had to deal with recently. Last week, it came to a £585m ($677m) settlement with the Crown Prosecution Service in the UK over historic violations in Turkey.