Entain Group, which reported a £152 million underlying profit before tax for H1 of 2022, will pay £14 million for failures at its online business LC International Limited which runs 13 websites including ladbrokes.com, coral.co.uk and foxybingo.com.

It will also pay £3 million for failures at its Ladbrokes Betting & Gaming Limited operation which runs 2,746 gambling premises across Britain.

All £17 million will be directed towards socially responsible purposes as part of a regulatory settlement.

Additional licence conditions will also be added to ensure a business board member oversees an improvement plan, and that a third-party audit to review its compliance with the Licence Conditions and Codes of Practice takes place within 12 months.

Andrew Rhodes, Gambling Commission chief executive, said: “Our investigation revealed serious failures that have resulted in the largest enforcement outcome to date.

“There were completely unacceptable anti-money laundering and safer gambling failures. Operators are reminded they must never place commercial considerations over compliance.

“This is the second time this operator has fallen foul of rules in place to make gambling safer and crime free.

“They should be aware that we will be monitoring them very carefully and further serious breaches will make the removal of their licence to operate a very real possibility. We expect better and consumers deserve better.”

Entain has released a statement confirming the regulatory settlement and its agreement with the Gambling Commission.