Entain expects a sizable fine from an HMRC investigation

Entain expects a sizable fine from an HMRC investigation

Added:
Entain expects a sizable fine from an HMRC investigation

As part of a long-term HMRC investigation into Entain, the company expects to be fined for certain past offenses related to its now-sold Turkish subsidiary.

Back in 2019, the UK’s HMRC launched an investigation into Entain, as part of which it ordered one of the firm’s subsidiaries to provide certain information on the company’s former Turkish division, which was sold two years prior in 2017. At the time it was thought that the analysis was chiefly aimed at one of Entain’s payment partners.

A year after the launch of the investigation, the HMRC expanded it to involve potential offending entities from within the company, with their offenses including certain violations of the United Kingdom’s Bribery Act.

In its statement, the operator recognized that certain offenses involving past employees and certain partners may have taken place. Entain stated that it is currently in negotiations with the country’s Crown Prosecution Services, and aims to reach a conclusion shortly.

The group added that while it does not know the potential consequences of the aforementioned failures, it expects them to involve a sizable fine of an undetermined amount. Entain also added that since the beginning of this investigation, it has enhanced its anti-bribery efforts and systems, along with strengthening its other compliance initiatives.

This news follows about a week after Entain’s collaboration with TAB NZ was approved by the government of New Zealand, which has greenlit a multi-decade-long partnership that will expand the former’s global presence and enhance its international operations.

  • Boomerang Partners to attend top events in Dubai Boomerang Partners to attend top events in Dubai
  • KSA fights against illegal gambling affiliates KSA fights against illegal gambling affiliates