Betting and gambling titan Entain made a momentous breakthrough in its legal affairs last Friday by striking a deferred prosecution agreement (DPA) with the Crown Prosecution Service (CPS). The prominent FTSE 100 company revealed that this agreement, which garnered preliminary judicial endorsement, chiefly pertained to the investigation conducted by HMRC into Entain's previous Turkey-focused business, divested in 2017.
Moreover, it encompassed the activities of former external suppliers and ex-employees of the conglomerate. The alleged transgressions were in relation to the Bribery Act, specifically emphasizing the company's failure to establish sufficient anti-bribery protocols. Entain asserted that the DPA was a voluntary accord that, once granted final court approval and satisfied its terms, would fully settle HMRC's inquiry regarding Entain and the company as a whole.
The terms of the DPA were congruent with those the firm outlined in its update on August 10th. Entain indicated that it consented to a substantial financial penalty and the disgorgement of profits, amounting to a grand total of £585m. Additionally, it pledged a charitable contribution of £20m and allocated £10m towards the coverage of HMRC and CPS expenses.
Moreover, it encompassed the activities of former external suppliers and ex-employees of the conglomerate. The alleged transgressions were in relation to the Bribery Act, specifically emphasizing the company's failure to establish sufficient anti-bribery protocols. Entain asserted that the DPA was a voluntary accord that, once granted final court approval and satisfied its terms, would fully settle HMRC's inquiry regarding Entain and the company as a whole.
The terms of the DPA were congruent with those the firm outlined in its update on August 10th. Entain indicated that it consented to a substantial financial penalty and the disgorgement of profits, amounting to a grand total of £585m. Additionally, it pledged a charitable contribution of £20m and allocated £10m towards the coverage of HMRC and CPS expenses.