Entain chairman Barry Gibson says the group has “fundamentally changed” after it entered into a Deferred Prosecution Agreement in the UK over its legacy Turkish business.
The DPA with the Crown Prosecution Service, which comes into effect on Tuesday, is the final step in Entain moving on from an issue which Gibson said has “hung over our business” since HMRC began its investigation in 2017.
As part of the DPA, Entain will pay a £585m settlement fee over four years to end an investigation into alleged offences under Section 7 of the Bribery Act 2010.
The offences relate to the legacy Turkish business that GVC Holdings, the group which preceded Entain with a different management structure, was responsible for.
Entain will also make a £20m charitable donation and pay a £10m contribution to HMRC’s and the CPS’ costs.
Gibson said: “We have cooperated extensively and proactively at every stage of the process which, I am pleased to say, has been recognised by the Court. Entain has now fundamentally and profoundly changed. We can now concentrate on the future."
