Entain, the gambling company, has reached a final Deferred Prosecution Agreement (DPA) with the Crown Prosecution Service (CPS) regarding its past activities in Turkey. Dame Victoria Sharp, President of the King’s Bench Division at the Royal Courts of Justice, gave the final judicial approval.
The DPA is related to alleged offences under Section 7 of the Bribery Act 2010, specifically the company’s failure to have adequate bribery prevention procedures in place in relation to its legacy Turkish-facing business in Turkey. This resolves the investigation into the company’s activities in Turkey, which were conducted under Entain’s previous name, GVC Holdings
The terms of the DPA remain in line with the preliminary approval granted on November 24. Entain has agreed to pay a financial penalty and disgorgement of profits totaling £585.0m (€674.0m/$736.1m). Additionally, it will make a charitable donation of £20.0m and contribute £10.0m to CPS and HMRC costs, to be paid in installments over a period of four years.
In response to the DPA, Entain issued a statement highlighting its comprehensive review of anti-bribery policies and procedures and the strengthening of its compliance program and related controls.
As of the time of writing, Entain’s share price was down 0.13% on market opening, with a decrease of 14.75% over the last 30 days.
Barry Gibson, chairman of Entain, expressed relief at the finalization of the DPA, stating, “This is the final step in a process that has hung over our business since HMRC launched its investigation into a business that was sold by a former management team six years ago. We have cooperated extensively and proactively at every stage of the process, which, I am pleased to say, has been recognized by the Court. Entain has now fundamentally and profoundly changed. We can now concentrate on the future.”
The finalization of the DPA marks the end of a chapter for Entain, allowing the company to move forward with its reformed practices.