Entain, the global gaming giant behind well-known brands like Ladbrokes, and recently Tab NZ, faces a challenge that could cause significant damage. In an ongoing investigation into its former operations in Turkey, the company faces accusations of bribery and illegal practices that might lead, at a minimum, to a massive fine.
In an announcement Wednesday, Entain stated that it anticipates being penalized by UK tax authorities for violations linked to its previous Turkish virtual betting enterprise. HM Revenue & Customs (HMRC) has been looking into the operations for years and has apparently uncovered damning evidence.
Entain also revealed that negotiations are underway with UK authorities regarding a sentencing agreement. In its own words, it said that it expects a “substantial financial penalty.”
In an announcement Wednesday, Entain stated that it anticipates being penalized by UK tax authorities for violations linked to its previous Turkish virtual betting enterprise. HM Revenue & Customs (HMRC) has been looking into the operations for years and has apparently uncovered damning evidence.
Entain also revealed that negotiations are underway with UK authorities regarding a sentencing agreement. In its own words, it said that it expects a “substantial financial penalty.”