Tag Archives: Turkey

Entain reaches final settlement on +£600m DPA of former Turkish affairs

Entain

Entain Plc has this afternoon announced that it has reached a definitive settlement on its Deferred Prosecution Agreement (DPA) with the Crown Prosecution Service (CPS), concerning the bribery investigation by HM Revenue & Customs (HMRC) of its Turkish-facing business. Terms of the settlement were approved by Dame Victoria Sharp, President of the King’s Bench Division at the Royal Courts of …

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Entain to settle HMRC Turkish dispute with + £600m payout

SBC News Entain to settle HMRC Turkish dispute with + £600m payout

Entain Plc has reached an ‘in principle’ agreement with the Crown Prosecution Service (CPS) to resolve its Deferred Prosecution Agreement (DPA) concerning the investigation by HM Revenue & Customs (HMRC) of its former Headlong Turkish business. This afternoon, Entain informed investors of obtaining preliminary judicial approval from Dame Victoria Sharp, President of the King’s Bench Division, to finalise a £585m …

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Dan Taylor: Betting big with Flutter International

SBC News Dan Taylor: Betting big with Flutter International

A map behind the desk of Dan Taylor, details the travels of the Chief Executive of Flutter Entertainment Plc’s International unit. So far in 2023, Taylor has “travelled to 29 countries in six months”, to oversee the progress and expansion of Flutter’s international division (which excludes its brands in the UK, Ireland, US and Australia). “I guess I could start …

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Barry Gibson: Entain is Gambling’s most sustainable Plc 

SBC News Barry Gibson: Entain is Gambling’s most sustainable Plc 

Further to this morning’s announcement of H1 2023 interim results, Barry Gibson, Chairman of Entain Plc, has issued a separate statement on the FTSE100 firm’s ongoing HMRC investigation. The news that corporate governance had reserved a £585m legal provision to settle the HMRC dispute related to the former Turkish business terminated in 2017 dominated Entain’s half-year results. “Whilst negotiations with …

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Entain H1 progress tainted by £580m Turkish legal provision  

SBC News Entain H1 progress tainted by £580m Turkish legal provision  

Entain Plc stands by its growth strategy and long-term financial prospects, following a transformative H1 trading period in which the FTSE gambling group acquired four new businesses to its global portfolio.  Publishing its 2023 Interim trading results, Entain registered a net group revenue (NGR) of £2.4bn, up 14% on H1 2022 results of £2.1bn. Generating a period NGR of £1.65bn …

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888 ends Alexander and Feldman approach as UKGC warns of licence suspension 

SBC News 888 ends Alexander and Feldman approach as UKGC warns of licence suspension 

The Board of 888 Holdings has confirmed this afternoon that it has terminated all ongoing discussions with FS Gaming Investments LLC.  FS Gaming is the investment vehicle of former GVC Holdings (formerly Entain Plc) leadership duo Kenneth Alexander (CEO) and Lee Feldman (Chairman) – who last month acquired a 6.5% stake in the LSE Gambling Group. Further to the investment, …

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Flutter clears Q1 high-bar on FanDuel growth and Sisal refresh 

Flutter Entertainment Peter Jackson

Flutter Entertainment Plc reports on a very positive opening to 2023 trading, as corporate governance prepares the FTSE100 gambling group for its dual listing in the US to be executed by Q4 2023.  Headline Q1 trading results saw Flutter’s enlarged global brand portfolio service over 12.3m average monthly players (AMPs), as group revenues stood at £2.4bn up 46% on corresponding …

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Intralot returns to H1 profits but warns of global headwinds

SBC News Intralot returns to H1 profits but warns of global headwinds

Intralot SPA has declared a ‘steady first-half of year’ as group leadership continues to monitor drastically changing economic and political dynamics impacting the value chain of its global business. Publishing its interim H1 2022 trading statement, the Athens-listed gambling and lottery technology group reported corporate revenues of €205m (H1 2021: €203m). A breakdown of product performance saw Intralot’s Lottery services …

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Winning Post: German gambling adjusts to a new normal

SBC News Winning Post: German gambling adjusts to a new normal

Undertaking a deep dive of German sports betting (omnichannel) and online gaming monthly tax yields since July’s GlüNeuRStV market reform. Regulus Partners uncovers that “as is often the case a critical mass of consumers is proving resilient to bad regulation” – creating a dangerous precedent for all market stakeholders.   The German domestically regulated sportsbetting market recovered in turnover terms in …

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