Investors are preparing a £150 million lawsuit against Entain, one of the world’s largest sports betting and gaming companies, following the company’s recent settlement over corruption allegations. The settlement, which involved Entain agreeing to pay £17 million to UK authorities, has sparked a backlash among shareholders who feel misled about the company’s ethical practices and the potential impact on their investments.

The background of the corruption settlement

The lawsuit stems from a corruption investigation into Entain’s overseas operations, particularly its business activities in Turkey. According to reports from the UK Gambling Commission (UKGC), the company had engaged in practices that violated anti-corruption laws, including failing to ensure compliance in its Turkish operations and facing allegations of bribery and money laundering.

Entain, formerly GVC Holdings, reached a settlement agreement with the UKGC, agreeing to pay £17 million in fines to avoid further legal proceedings. The settlement drew significant attention to the company’s internal governance and compliance procedures, raising serious questions about how these breaches were allowed to occur.

The fallout from the settlement also led to changes in leadership. Jette Nygaard-Andersen, who had guided the company through this tumultuous period, resigned in December 2023. Her resignation followed the resolution of the investigation, marking a major shift for Entain’s leadership. Stella David was appointed interim CEO, taking on the task of managing the company’s response and stabilising its operations​.

Although Entain has since taken steps to overhaul its compliance structure, tighten policies, and improve staff training, the damage to its reputation has already been significant. These efforts, while essential, have come too late for many shareholders, as the scandal has already impacted the company’s market value and projected earnings​.

Challenges of the gambling industry

The gambling industry, particularly for large multinational operators like Entain, frequently encounters ethical and legal challenges, especially in regions with weaker regulatory frameworks. 

In countries like Turkey, where Entain’s bribery scandal emerged, regulatory oversight is less stringent compared to more regulated markets like the UK. This disparity can foster environments conducive to unethical practices such as bribery and money laundering.

Modern features like casino instant withdrawal enhance convenience for players but also present additional compliance risks. Entain’s issues in Turkey—highlighted by a significant bribery scandal—illustrate these risks. 

The company’s failure to adhere to anti-corruption laws has led to a major settlement and a pending lawsuit, eroding investor trust. This situation underscores the importance of maintaining robust governance and compliance measures to mitigate risks associated with less regulated markets. 

It serves as a reminder of the need for strong ethical standards and effective compliance programmes in the gambling sector. Investors must remain vigilant and advocate for rigorous governance practices to protect against the risks inherent in such environments.

Shareholders’ reaction and the planned lawsuit

Shareholders are proceeding with a £150 million lawsuit against Entain, claiming mismanagement and lack of transparency. They argue the company failed to fully disclose its legal risks during the corruption investigation, leaving investors unaware of the significant financial threat. 

Several institutional investors are accusing Entain’s leadership of neglecting to mitigate risks tied to its overseas operations, especially in areas prone to bribery. The investors seek compensation for losses from the company’s stock decline following the settlement, alleging the financial performance and stock value were artificially inflated due to the lack of disclosure.

The online gambling industry & Entain’s future

Gavin Isaacs was recently appointed CEO to help stabilise Entain and rebuild investor confidence. With extensive experience in the gaming industry, Isaacs is expected to focus on strengthening governance, transparency, and driving growth, especially in global markets, following the fallout from the corruption scandal

They also made some positive headlines as their shares recently jumped by 7.6%, driven by strong growth in its UK arm, boosted by the Paris Olympics and Euro 2024. The company also benefitted from new product launches ahead of the NFL season, signalling that its marketing and product development strategies may be yielding positive results

As companies continue to expand into international markets, the risks associated with corruption and weak regulatory oversight increase. For Entain, the consequences of failing to address these risks have been significant, leading to a financial and reputational crisis. The outcome of this lawsuit could set a precedent for how shareholders in the gambling industry respond to corporate mismanagement and ethical breaches in the future.

THIS autumn, theatre enthusiasts have the opportunity to experience something truly remarkable. The Torch Theatre in Wales will host the English-language premiere of Tachwedd, a thought-provoking drama by Jon Berry, before it heads to the London stage. This unique production, which promises to leave a lasting impression, blends history, mythology, and contemporary struggles to explore deep themes of land, identity, and destiny.

Set in the heart of Bethesda, North Wales, Tachwedd spans centuries, from the 1700s to the present day. The play examines the pressures faced by a modern Welsh family, from a mother’s fight to pay the rent to a town grappling with the aftermath of mass layoffs. At its core, Tachwedd reveals how history, violence, and dispossession have shaped the land and the lives of those who inhabit it.

The play, directed by Jac Ifan Moore and produced by Phoebe Stringer Productions and Theatre 503, flips the typical “state-of-the-nation” play on its head. It weaves religious fervour, royal hunting parties, and national anxiety into a powerful, contemporary piece of theatre. The script delves into the consequences of decisions that reverberate across time, with the land itself becoming a fractured character that reflects the turmoil experienced by its inhabitants.

The stellar Welsh cast, including Bedwyr Bowen, Saran Morgan, Carri Munn, and Glyn Pritchard, will take to the Torch Theatre stage on the 25th, 26th, 27th, and 28th of September. All performances will start at 7pm. With an age guidance of 14+, audiences should be aware that the play includes explicit references to sexual violence and rape, adding to the intensity and realism of the themes explored.

Don’t miss this unforgettable production, which promises to resonate deeply with audiences long after the curtain falls.

Tickets are priced at £12, and given the limited run, theatre-goers are encouraged to book early. Tickets can be purchased by contacting the Torch Theatre Box Office on 01646 695267 or by visiting torchtheatre.co.uk.

For further information and press images, please contact Anwen Francis (Marketing, Press & Communications) at [email protected] or call 07854 772640.

Wales is known to contain plenty of beauty within itself, but one area is highly deserving of such praise. In the southwest of the country, along its stunning coastline, lies the county of Pembrokeshire. Here, you’ll be taken aback by how diverse and compelling the landscape is, ranging from sandy beaches to high sea cliffs. But, if you’re a lucky local or a simple visitor, you might be wondering what you can do beyond enjoying the vistas available. In this case, you have found yourself in the right place.

Top coastal activities to try

With such an impressive coastline, it’s not surprising that you can enjoy plenty of fishing. Here, the bulk of your catches will comprise of bass, mackerel, and wrasse. Fishing overall is a very relaxing option that has been gaining traction in recent years even amongst younger generations, as advised by The Guardian. We can even see this in the rise of fishing-themed games such as the Fishin’ Bonanza slot found on the mobile bingo app. If you haven’t heard of this app before, it’s an online casino platform where you get the chance to play a variety of slots, live casino, and bingo. 

For those seeking a more thrilling experience, we have coasteering, another great choice thanks to the landscape of the area. In fact, this recreational activity is said to have been first practiced commercially in Pembrokeshire. For those who haven’t had the pleasure of coasteering before, it simply entails activities that happen on the foreshore, such as cliff-jumping, exploring caves, and rock-hopping. However, we do suggest that this is only done with experienced professionals nearby.

Alternatively, you can go paragliding, which is a great option for people who want to look at the coast view from above. We would recommend this to people who aren’t afraid of heights, as even season pros may find this quite exhilarating. But if you’re a complete beginner, you don’t have to worry as you can get lessons from the Pembrokeshire Paragliding.

Cultural and historical sites to visit

Apart from the wonderful coastline, there are plenty of cultural and historic sites you can visit. Starting with the impressive Pembroke Castle, a sprawling mediaeval castle originally built in 1093, which has gone through several rebuilding and restoration phases throughout the next centuries. It is open to the public, so you can explore the castle with free guided tours included in the admission price. And with the fact that the castle was the birthplace of Henry VII, Britain’s only Welsh King, you can expect plenty of highly interesting exhibits.

Speaking of the Tudors, a must-visit is the Tudor Merchant’s House, the oldest house still standing in Tenby. Although this has nothing to do with the royal family per se, this three-story 15th-century stone townhouse will certainly take you back in time. As a historic house museum, it has been carefully preserved for current and future generations with fine reproductions of era-appropriate furniture. 

If you want to explore Pembrokeshire even further back in time, then the Pentre Ifan is a great option. This ancient manor dates back to the Neolithic era, or New Stone Age, containing the biggest preserved Neolithic dolmen in the country. The running theory is that this was originally a communal burial, which formed the courtyard where rituals and ceremonies took place, however, this is not fully confirmed.

Pembrokeshire truly is a one-stop-shop for all kinds of experiences, ranging from recreational to historical. So, if you live here, consider yourself quite fortunate. And if you’re planning a trip to Wales and don’t know which area to visit, well, you’d be quite remiss not to place this county at the top of your bucket list.