Entain PLC (LSE:ENT) said it had taken the “final step” to end its Turkish bribery scandal after entering a deferred prosecution agreement (DPA) with the Crown Prosecution Service.
The DPA, which comes into effect on today's date, fully resolves HMRC's investigation insofar as it concerns the company and the Group, the Ladbrokes and Gala Bingo owner said in a statement.
Entain said the final terms were in line with those previously announced, namely a fine of £585 million, a £20m charitable donation, and £10m of costs.
A full discount was applied to the fine in recognition of Entain’s "exemplary" cooperation with HMRC and the CPS, said the statement.
Singficinat improvement has also been made to compliance and related controls, Entain added.
Barry Gibson, Entain’s chairman said: "This is the final step in a process that has hung over our business since HMRC launched its investigation into a business that was sold by a former management team six years ago.
“We have cooperated extensively and proactively at every stage of the process which, I am pleased to say, has been recognised by the Court.
“Entain has now fundamentally and profoundly changed. We can now concentrate on the future."
Shares were flat at 797.8p.