Entain's Management Addresses Historical Issues and Future Strategy
Entain’s chairman, Barry Gibson, has been making concerted efforts to distance the current management of Entain from the previous management team at GVC. The narrative presented is one of a company making strides to move past its historical challenges.
Entain is set to provision a substantial £585m to cover the Deferred Prosecution Agreement with HMRC and the Crown Prosecution Service. This figure, as Gibson pointed out, is significant because it pertains to a business that was highly profitable for a long duration. He further mentioned that more details regarding this would be made public around mid-October when a statement of fact will be presented in court.
Gibson emphasized Entain’s commitment to operating solely in markets that are either “regulated or regulating”. He stated that if a market does not display a clear path to regulation, Entain’s approach would be to exit. This stance has been reinforced by recent regulatory advancements in Brazil, with CEO Jette Nygaard-Andersen expressing satisfaction over the passing of new regulations in the country.