Entain reserves £585 million for the Turkey settlement

As part of its ongoing negotiations with the Crown Prosecution Service considering a deferred prosecution agreement, Entain has put aside £585 million ($746.3 million). An inquiry by HMRC into Entain's former Turkish-facing company, which it sold in 2017 has already been made public. After that, the business began DPA discussions with the CPS to resolve the pending HMRC investigation. Entain is now preparing to resolve the HMRC inquiry against the business as well as the larger group. Although the court must yet approve the DPA's full terms, the business has set aside a £585 million contingency because it is confident in the outcome.

 

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Settling with a big payment is better than going to court, they should make sure not to repeat any mistakes. As a big business, they have a duty to follow all laws, especially around taxes. Hopefully this deal means they will clean everything up properly and be completely honest with authorities going forward.