{"id":3917,"date":"2023-12-07T07:24:01","date_gmt":"2023-12-07T07:24:01","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=3917"},"modified":"2023-12-07T07:24:03","modified_gmt":"2023-12-07T07:24:03","slug":"entain-reaches-final-settlement-on-600m-dpa-of-former-turkish-affairs","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2023\/12\/07\/entain-reaches-final-settlement-on-600m-dpa-of-former-turkish-affairs\/","title":{"rendered":"Entain Reaches Final Settlement on +\u00a3600m DPA of Former Turkish Affairs"},"content":{"rendered":"\n

Entain Plc<\/strong> has this afternoon announced that it has reached a definitive settlement on its Deferred Prosecution Agreement (DPA<\/strong>) with the Crown Prosecution Service (CPS), concerning the bribery investigation by HM Revenue & Customs (HMRC)<\/strong> of its Turkish-facing business.<\/p>\n\n\n\n

Terms of the settlement were approved by Dame Victoria Sharp,<\/strong> President of the King\u2019s Bench Division at the Royal Courts of Justice at the Crown Court of Southwark.<\/p>\n\n\n\n

HMRC had investigated GVC Holdings,<\/a> the former entity of Entain PLC for breaching the Bribery Act 2010. The DPA addresses allegations of failing to have adequate procedures to prevent bribery, particularly in its Turkish-facing business, which was sold in 2017.<\/p>\n\n\n\n

The board of Entain states that the DPA has resolved HMRC\u2019s investigation concerning the FTSE100 firm\u2019s former business affairs.<\/p>\n\n\n\n

As communicated prior to the settlement, Entain has agreed to pay a total of \u00a3585m, comprising a financial penalty<\/a> and disgorgement of profits. Entain has pledged a further \u00a320m charitable donation, and a \u00a310m contribution to HMRC and CPS costs.<\/p>\n\n\n\n

Entain disclosed: \u201cThe financial penalty, disgorgement of profits and the charitable donation will be paid in installments over the term of the DPA, which will be four years from today\u2019s date.\u201d<\/p>\n\n\n\n

The Court granted a full discount (without inflation adjustments) on the financial penalty due to Entain\u2019s \u201cexemplary cooperation with HMRC and CPS.\u201d<\/p>\n\n\n\n

Concluding outstanding legal affairs, Chairman Barry Gibson<\/strong> said, \u201cThis is the final step in a process that has hung over our business since HMRC launched its investigation into a business that was sold by a former management team six years ago.\u201d<\/p>\n\n\n\n

\u201cWe have cooperated extensively and proactively at every stage of the process which, I am pleased to say, has been recognized by the Court. Entain has now fundamentally and profoundly changed. We can now concentrate on the future.\u201d<\/p>\n\n\n\n

Don’t forget to subscribe to our Telegram-channel<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

Entain Plc has this afternoon announced that it has reached a definitive settlement on its Deferred Prosecution Agreement (DPA) with the Crown Prosecution Service (CPS), concerning the bribery investigation by HM Revenue & Customs (HMRC) of its Turkish-facing business. Terms of the settlement were approved by Dame Victoria Sharp, President of the King\u2019s Bench Division […]<\/p>\n","protected":false},"author":6,"featured_media":3918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[21,1],"tags":[6057,6056,6055,5933,324,4409,5931,6060,6059,6061,6058],"class_list":{"0":"post-3917","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-features","8":"category-news","9":"tag-bribery-act-2010","11":"tag-deferred-prosecution-agreement","12":"tag-dpa","13":"tag-entain","14":"tag-gvc-holdings","15":"tag-hmrc","16":"tag-royal-courts-of-justice","17":"tag-settlement","19":"tag-turkish-business"},"yoast_head":"\nEntain Reaches Final Settlement on +\u00a3600m DPA of Former Turkish Affairs - SBC EURASIA EN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2023\/12\/07\/entain-reaches-final-settlement-on-600m-dpa-of-former-turkish-affairs\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Entain Reaches Final Settlement on +\u00a3600m DPA of Former Turkish Affairs - SBC EURASIA EN\" \/>\n<meta property=\"og:description\" content=\"Entain Plc has this afternoon announced that it has reached a definitive settlement on its Deferred Prosecution Agreement (DPA) with the Crown Prosecution Service (CPS), concerning the bribery investigation by HM Revenue & Customs (HMRC) of its Turkish-facing business. 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