Entain has reached an agreement with the Crown Prosecution Service to pay £585m to settle an HMRC investigation into its legacy Turkish-facing business.
The group said in August that it had put the funds aside to prepare to settle the case and said it had a “sufficient degree of confidence” that it could resolve the matter with payments over four years.
Sticking to that payment timeline, Entain will also make a charitable donation of £20m and pay a contribution of £10m to HMRC and the CPS’ costs.
Entain chairman Barry Gibson said the group has changed “immeasurably” since the failings took place under a former management team in 2017, adding that the deferred prosecution agreement proceedings provide a reminder of “the stark differences between the GVC of yesterday and the Entain of today.”
Entain will now seek final judicial approval from the Royal Courts of Justice sitting as the Crown Court at Southwark in a hearing next Tuesday.
