Entain to pay over £600m under deferred prosecution agreement

Entain has finalised its £585 million deferred prosecution agreement with England’s Crown Prosecution Service (CPS), with the company also agreeing to pay an additional £30 million.

As previously announced in August, Entain will pay £585 million to the CPS in the form of a financial penalty and disgorgement of profits relating to company’s legacy Turkish-facing business, which was sold in 2017.

The deferred prosecution agreement on alleged offences committed under Section 7 of the Bribery Act 2010 will also see Entain make a charitable donation of £20 million and pay £10 million towards the costs of HMRC and the CPS.

The deferred prosecution agreement remains subject to court approval on 5 December, with the total amount under the agreement to be paid over four years from the date of court approval.

“This legacy matter concerns a business which was sold by a former management team six years ago. The Group has changed immeasurably since these events took place, and the DPA process has provided a reminder of the stark differences between the GVC of yesterday and the Entain of today,” said Barry Gibson, chairman of Entain.

“We are committed to continuing our journey towards operating only in regulated markets, and are now widely recognised as a best-in-class, responsible operator with the highest levels of corporate governance across all aspects of our business.”

Shares in Entain plc. (LSE:ENT) closed unchanged at 859.00 pence per share in London Friday.