Sports betting operator Entain is set to pay more than half a billion pounds to settle a bribery investigation.
An agreement with the British tax authority HMRC provides for a payment of 585 million pounds (674 million euros), the company announced on Friday. The company offers sports betting and gambling through various brands, including Ladbrokes, Corel and bwin.
Authorities had been investigating alleged bribery at a former Turkish subsidiary that had already been sold in 2017. The company was accused of not having taken sufficient precautions to prevent bribery, reported the British news agency PA.
Entain had already announced a deal in August and announced that it would set aside a corresponding amount. An agreement has now been reached in principle with the public prosecutor’s office, the statement said. A court still has to give its final approval. It is therefore planned that the company will also pay £20 million to charities. Entain is listed on the British stock index FTSE 100.
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LONDON (dpa-AFX)