Investors seeking around £100m payout from BetMGM co-owner Entain

Investors seeking around £100m payout from BetMGM co-owner Entain

Article brief provided by The Standard
  • Henry Saker-Clark, The Standard
June 16, 2024 1:36 PM
  • Henry Saker-Clark, The Standard

Investors in gambling giant Entain could seek more than £100 million [$127 million] in compensation over bribery and corruption issues at the Ladbrokes owner’s former Turkish business. Law firm Fox Williams said it is proposing a large group litigation claim against Entain for alleged “failure to report honestly” on these issues.

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It comes after Entain, which also owns the Coral brand, agreed with HM Revenue & Customs to pay £585 million in penalties and disgorgement of profits following a probe.

HMRC had been probing Entain over activities at the Turkish-facing business that it sold in 2017.

Authorities started investigating the suppliers in 2019, and a year later turned their gaze on the GVC Group, which subsequently rebranded to Entain.