Entain potentially facing further £100m litigation claim related to Turkish operations
The operator paid £585m ($764m) after a bribery investigation into its Turkish-facing business.
Industry giant Entain could be faced with a new group litigation claim from investors, related to its reporting of the bribery and corruption linked to its Turkish operations.
The law firm Fox Williams is investigating the group litigation claim, where damages sought from Entain could potentially be upwards of £100m.
Back in November, the operator paid a financial penalty plus disgorgement of profits totaling £585m over its legacy Turkish business in relation to activities of former third-party suppliers and former employees of the group. Entain also donated £20m to charity and paid a contribution of £10m to HMRC and the CPS’ costs.
This penalty came after alleged offences under Section 7 of the Bribery Act 2010 and the failure of the company to have adequate procedures in place to prevent bribery.
Fox Williams Partner and Head of the Securities Litigation Team Andrew Hill said: “This claim will offer institutional investors the opportunity to recover substantial losses but more importantly serve to improve transparency and governance within the UK’s gambling sector, reminding public companies that they need to take their disclosure obligations seriously.
“Hopefully this will therefore have the knock on effect of improving corporate behaviour, because public companies should know that their shareholders won’t let them get away with misconduct.”
An Entain spokesperson provided the following statement to Gambling Insider regarding the matter: “Entain is not aware of any issued claim of this kind against the Company. We would defend any such action robustly.”
In other legal news today, Hon Brian Martin AO KC will recommence an investigation into SkyCity Adelaide Casino after it was fined AU$67m (US$44.3m) by the Federal Court last week.
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