Facebook's Meta fined for breaches of Italian gambling ads ban

Meta Platforms (META.O), the parent company of Facebook, has become the latest tech company to be fined in Italy for breaches of a ban on the advertising of gambling.

Meta has been fined 5.85 million euros (6.45 million) in connection with profiles and accounts on Facebook and Instagram, as well as sponsored content which promoted either betting or games with cash prizes, communications watchdog AGCOM said in a statement, Reuters reports.

There was no immediate comment from Meta.

Earlier this month, AGCOM announced fines for Alphabet Inc's (GOOGL.O) YouTube and Amazon's (AMZN.O) Twitch for breaching the ban. YouTube and Twitch were fined 2.25 million euros and 900,000 euros respectively.