Entain has taken a £585million provision for a potential settlement following a bribery investigation by HM Revenue & Customs.

The investigation included a review of the gambling firm’s former Turkey-facing business, which it sold six years ago and where HMRC have probed potential historical misconduct involving former third-party suppliers and ex-employees of the group. 

The update overshadowed solid first-half performance by the gambling firm, which told investors it now expects full-year core profit in the range of £1billion to £1.05billion, up from £993million in 2022.

Barry Gibson, Chairman stated “We are pleased to be making good progress towards drawing a line under this historical issue, which relates to a business that was sold by a former management team of the Group nearly six years ago. We have been working closely with the CPS throughout this process, and they have recognised our extensive co- operation. Following a complete overhaul of our business model, strategy and culture in the last few years, the Entain of today bears no resemblance to the GVC of yesterday.”

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of English law by virtue of the European Union (Withdrawal) Act 2018. The person responsible for releasing this announcement on behalf of the Company is Simon Zinger, General Counsel. Upon the publication of this announcement, this inside information is now considered to be in the public domain.