Entain is in deferred prosecution agreement negotiations with the UK Crown Prosecution Service and is working towards achieving a resolution of the ongoing HMRC investigation.
As previously disclosed, on November 28, 2019, Entain Holdings UK, a subsidiary of the company, received a production order from HM Revenue and Customs requiring it to provide information relating to the group's former Turkish-facing online betting and gaming business, which it held from 2011 until it was sold in 2017.
At that time, the group understood that HMRC's investigation was directed at a number of former third-party suppliers, relating to the processing of payments for online betting and gaming in Turkey.
On July 21, 2020, the company announced that HMRC was widening the scope of its investigation and was examining potential corporate offending by an entity (or entities) within the group. The offences under investigation include, but are not limited to, section 7 of the Bribery Act 2010.
The company understands that the HMRC investigation, which is ongoing, includes a review of its former Turkish-facing business and acknowledges that historical misconduct involving former third-party suppliers and former employees of the group may have occurred.
Barry Gibson, chairman of Entain, said: “We are keen to achieve a resolution to what is an historical issue relating principally to a business that was sold by the group nearly six years ago.
"Entain has been through a period of extraordinary transformation since then and has taken decisive action to be a best-in-class, responsible operator with outstanding corporate governance.
"The board and leadership teams have been overhauled, 100 per cent of our revenue is now from regulated or regulating markets and our business model, strategy and culture have been reviewed, analysed and stress-tested.
"We will continue to work closely with both the CPS and HMRC to ensure that this matter can be concluded as soon as is practical.”
