Penalty includes paying cash to charities
A UK gambling firm will pay £20m to charity as part of a massive £615 million payback after a complex international investigation launched by HM Revenue and Customs (HMRC).
Entain PLC (formerly GVC Holdings), an online sports betting and gaming business and owner of Ladbrokes and Coral bookmakers, has agreed the payment as part of a Deferred Prosecution Agreement (DPA) relating to its former Turkish business.
The agreement with Entain PLC was approved during a hearing at the Royal Courts of Justice.
It means Entain has become the first business to avoid a bribery trial by striking a deal with crown prosecutors.
The DPA relates to offences under Section 7 of the Bribery Act 2010 and a failure by the Company to prevent bribery in relation to its legacy Turkish-facing business.
Richard Las, CBE, chief investigation officer and director fraud investigation service, HMRC, said: “HMRC is committed to creating a level playing field for businesses and this judgement should serve as a wake-up call to others to make sure their house is in order.
“This was a complex international investigation that was launched as part of our role as an anti-money laundering supervisor. It has resulted in today’s hearing that revealed Entain failed to prevent bribery in relation to its former business in Turkey.
“This case is a significant multi-million pound agreement for the taxpayer, which includes a £585m penalty, £20m for charities and a further £10m in legal costs.”
Entain sold its Turkish business in 2017 has been trading as Entain PLC since 2020.