Former GVC chiefs file media challenge against UKGC

Kenny Alexander and Lee Feldman have launched legal action against the UK Gambling Commission (UKGC), alleging a “misuse of private information.”

The former CEO and Chairman of GVC Holdings (formerly Entain Plc) filed their case under “Part-53 of the Media and Communications Claims.”

London law firm Slateford represents Alexander and Feldman in this legal challenge. Though the exact details of the allegations remain unclear, this isn’t the first time tensions have flared between the two parties.

Last year, FS Gaming, an investment vehicle led by Alexander, attempted to take control of 888 Holdings (formerly Evoke Plc) by acquiring a 6.5% stake in the LSE gambling group. 

The ambitious move prompted an investigation from the UKGC, which was concerned about an ongoing inquiry into a historical bribery case involving Entain and its former Turkish subsidiary, Headlong.

As a result, 888 raised questions about Alexander’s intentions, especially as he aimed to increase his shares and step in as CEO, with Feldman potentially becoming chairman if the acquisition succeeded.

In response to FS Gaming’s request for clarification, which 888 described as providing “only the most basic assurances,” the UKGC decided to review 888’s operating licences. Given the recent investment and acquisition proposal, the Commission deemed a review necessary, and 888 assured it would “cooperate fully.”

Following this development, 888’s board unanimously chose to end discussions about the acquisition, citing the ongoing review, available public information, and the slim chances of regulatory approval for the proposed appointments.

Just months after Alexander’s bid for 888 fell apart, Entain reached a £585m settlement with the Crown Prosecution Service over a bribery investigation, resulting in corporate losses of £900m on its 2023 accounts. The investigation involved Entain’s former Turkish business, which it sold in 2017. Under the settlement, the Ladbrokes and Coral owner will make payments to HMRC.

At the time of the settlement, Chairman Barry Gibson commented: “This legacy issue relates to a business divested by a past management team six years ago. Since then, the company has transformed, and the DPA process highlights just how much GVC has evolved into today’s Entain.”

“We’re focused on advancing our operations exclusively in regulated markets, and we’re recognized as a responsible leader with robust corporate governance across our business.”

SBC has contacted Slateford Law for further information on the dispute between Feldman, Alexander, and the Gambling Commission.