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27th November 2023, 19:38

Entain in £600 million settlement following bribery investigation

Published by GBC News

Gaming company Entain, which owns a licence in Gibraltar, has reached an in-principle agreement which will see the gaming company pay over £600 million to settle a long-running bribery investigation stemming from the sale of a Turkish subsidiary.

Entain had previously set aside £585 million in anticipation of this settlement.

It will also make a £20 million charitable donation and pay £10million to the UK’s Revenue and Customs and Crown Prosecution Service in order to cover their costs over the course of the investigation.

In a statement, Entain Chair, Barry Gibson, emphasized this was a legacy matter concerning a business sold by former management six years ago and that the company has changed immeasurably since then.

A number of local workers were made redundant by Entain last week, although it has not confirmed how many employees were affected.