Entain hits $729 mln settlement for Turkish bribery probe

Following the announcement on Aug. 10, 2023, the global sports betting and gaming group Entain plc announced that it had reached a deferred prosecution agreement in principle with the Crown Prosecution Service, which received preliminary judicial approval from the King’s bench division chief, Victoria Sharp, at a hearing last week in Southwark. Entain will now receive final judicial approval from the court on December 5, 2023.

The DPA is linked to HMRC’s investigation into the company’s Turkish face-to-face business, which the group sold in 2017, and the activities of former third-party suppliers and former employees of the group. This stems from the failure of the company to come up with proper procedures to prevent criminal charges under section 7 of the Bribery Act 2010, especially bribery. The DPA is a voluntary agreement and, subject to the court’s final approval and compliance with the conditions, the HMRC investigation into these matters will be fully resolved as far as the company and the group are concerned.

The terms of the DPA are consistent with the provisions announced on August 10, 2023. The company agreed to pay a financial penalty and a total profit of £585 million, make a charitable contribution of £20 million, and pay a contribution of £10 million to HMRC and CPS costs. Financial penalties, profits, and charitable contributions will be paid in installments during the DPA’s period of four years from the date of final court approval.

We have worked extensively with HMRC and CPS and will continue to work with the authorities in the future in accordance with the terms of the DPA. 파친코

Chairman Barry Gibson said:
“The legacy concerns a business that was sold by the management team six years ago. Since this incident, the group has changed immeasurably, and the DPA process has reminded us of the stark differences between yesterday’s GVC and today’s Entain. We are committed to continuing our journey operating exclusively in regulated markets, and are now widely recognized as the best-in-class, responsible operator with the highest level of corporate governance in all aspects of our business.”

Further announcements will follow the hearing on December 5, 2023, with details of the confirmed DPA to be provided in due course.

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