Connect with us
Advertisement
Advertisement

Entertainment

Investors plan £150 million lawsuit against Entain after corruption settlement

Published

on

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.

 

Entertainment

Torch Youth brings fresh twist to Robin Hood legend

Published

on

More than 50 young actors will take to the stage at the Torch Theatre this July for a new version of one of Britain’s best-loved stories

Robin Hood: The Legend of the Black Knight has been written especially for Torch Youth Theatre and will run for three nights, from Monday, July 20 to Wednesday, July 22, at 6:30pm.

The production promises adventure, comedy, romance and mystery, while giving the classic tale a fresh Pembrokeshire stage treatment.

Director Tim Howe, who is originally from Nottingham, said the legend had been part of his life since childhood.

He said: “I grew up surrounded by the legendary tales of Robin Hood and his merry men — stories filled with bravery, rebellion and mischief.

“Add to that the brilliantly funny Maid Marian TV series with Tony Robinson, which kept me glued to the TV throughout my childhood, and you can imagine how deeply rooted all the versions of the Robin Hood stories are for me.

“It’s been great to explore them and reimagine them with our young people in mind.”

The story of Robin Hood has been told, retold and reinvented since the 1300s, and the Torch version keeps many familiar ingredients — green-clad heroes, robbing from the rich to give to the poor, a damsel in distress and a power-hungry ruler.

But this new production also changes the legend in unexpected ways.

Tim said: “You’ll find that Prince John has been replaced by his mother, the ruthless Queen Eleanor, and there’s a mysterious Black Knight who keeps popping up.

“We’ve also had a lot of fun developing some of those key members of the gang — Will Scarlett loves to dress up in disguises, and Allan-a-Mor is a musician desperate to find the perfect four-chord song.

“So, it’s the classic legend… sort of!”

Tim described the play as “adventurous, hilarious and heartfelt”, adding that the production had been designed to give every young performer a meaningful moment on stage.

He said: “With large ensemble action-filled moments, to quieter character-driven scenes, there’s space to suit everyone’s skills.

“Torch Youth Theatre aims not just to develop the young people’s acting skills, but also their confidence, teamwork and imagination, and large-scale productions like this are the perfect opportunity to do just that.”

Robin Hood: The Legend of the Black Knight will be staged at the Torch Theatre on Monday, July 20, Tuesday, July 21 and Wednesday, July 22 at 6:30pm.

Tickets cost £10, or £8 for concessions, and can be booked at torchtheatre.co.uk or through the Box Office on 01646 695267.

 

Continue Reading

Community

Step into West Wales history this Half Term with CADW

Published

on

FAMILIES across Wales can look forward to an action‑packed May half term, as Cadw unveils a jam-packed programme of events at castles, abbeys and historic monuments across the nation.

Running from Saturday May 23 to Sunday May 31, the wide range of events invite visitors to step into Wales’ past through immersive experiences, interactive workshops and hands‑on activities designed to spark curiosity and bring Welsh history to life.

With activities ranging from knight school and jester workshops, to adventure trails and bubble animals there is something for all ages to enjoy this May half-term.

Chief Executive of Cadw, Kate Roberts, said: “May half term is the perfect chance for families to get out and explore the incredible history on their doorstep in Wales. This year’s programme has been designed to be hands-on, engaging and genuinely fun, giving visitors of all ages the chance to connect our nation’s past and spend quality time together outdoors.
“With children going free with any adult membership, it’s a great-value option for families planning a few days out over the holidays. Cadw members enjoy unlimited access to over 130 historic locations across Wales, alongside a range of exclusive benefits, making it easier than ever to discover something new.”

With over 20 events across the school holidays, highlights from the half term line up will include the Strata Florida Abbey Craft Fayre when the abbey will host local arts, crafts and produce, alongside family-friendly activities, guided tours and more.

Also taking place is the Rainbow Gecko Bubbleman at Laugharne Castle on Saturday, May 30 and Sunday May 31 between 11am and 4pm when Bubbleman and the Bubble Faerie will bring a playful dose of magic to the day with their fully interactive bubble performances, featuring giant bubbles, bubble animals and even frozen creations. Visitors of all ages can join in the fun, learn a few tricks and take home their own bubble‑filled memories.
For those looking to take advantage of the events available during May half-term, a Cadw membership offers free event entry and unlimited access to over 130 historic places across Wales, offering a unique way to explore Wales’ rich heritage. Children also go free with any adult membership.

A selection of Cadw’s most fascinating historic places will also be open for guided tours throughout the summer.

To find out more, visit https://cadw.gov.wales/visit/whats-on/guided-tours-cadw

 

Continue Reading

Entertainment

How online slot platforms are improving player safety

Published

on

WHEN it comes to gambling online, player safety is of utmost importance. There are a number of risks when it comes to online slots, from scams to addiction. But luckily, nowadays, there are a number of measures in place that are effectively improving player safety on these platforms. So, with that in mind, let’s take a closer look at how online slot platforms are ensuring players always remain safe online. 

AI-Driven Behaviour Monitoring 

AI is being used to track suspicious behaviour, spotting and flagging scammers or fraudulent individuals before they have a chance to make a move. Over the years, this type of technology has advanced significantly, and it’s now more effective at spotting patterns and preventing scams than ever before. 

Secure Connections and Payment Systems 

Legitimate online slot platforms use encryption and offer a variety of secure payment methods that ensure unauthorised individuals can’t intercept payments or access personal or financial information.

Two-Factor Authentication

Many platforms are now employing two-factor authentication methods, meaning players have to supply two forms of verification to access their account. This extra layer of security makes it more difficult for hijackers to take over accounts and steal personal data or financial information. 

Responsible Gambling Tools 

Player safety isn’t just about preventing scams or fraud. It’s also about reducing the chances of problematic gambling, which can be incredibly harmful. 

Since gambling is known to be addictive, slot machines and online casinos use a number of tools to prevent players from getting carried away or becoming problem gamblers. This includes things like spending limits and time outs, or even full self-exclusions that mean players can’t gamble online for six months, one year, or five years. 

Licensed platforms also have a responsibility to keep an eye out for potential problem gambling, and intervene where necessary to protect players from harm. 

Safety is the Top Priority 

Since gambling moved largely online, maintaining the safety of players through digital means has become incredibly important. When choosing a new online slot platform, or any gambling site, it’s always important to opt for ones that prioritise safety and have the right measures in place to protect players properly. 

This includes things like monitoring suspicious or problematic behaviour, using secure connections and payment systems, adding an extra layer of security with two-factor authentication, and using tools such as spending or time limits to ensure habits don’t escalate. 

 

Continue Reading

Business21 hours ago

Plaid energy policy challenged by Labour after Adam Price interview

LABOUR SAYS MINISTERS MUST EXPLAIN COST AND TIMETABLE FOR PYLON PLANS PLAID CYMRU’S approach to energy infrastructure has come under...

Community22 hours ago

Pembroke Fair praised as well-organised community event

HORSES, STALLS AND FAMILY CROWDS RETURN TO MONKTON FAMILIES, horse owners and visitors turned out in force for Pembroke Fair...

Local Government3 days ago

Youngest mayor in century takes office in Haverfordwest

Randell Izaiah Thomas-Turner makes history as town’s first millennial mayor and first from a diverse background HAVERFORDWEST has welcomed a...

Community4 days ago

Pembroke Fair set to return after last year’s success

STALL HOLDERS INVITED AS HORSE DRIVE PLANNED PEMBROKE Fair is set to return this weekend following the success of last...

Crime4 days ago

Neyland man accused of running over traffic worker’s foot

Jury hears conflicting accounts over roadworks incident in Milford Haven A NEYLAND man has appeared before Swansea Crown Court accused...

Community4 days ago

New pilot boat Llanion dedicated at emotional Milford Haven ceremony

Vessel dedicated at Mackerel Quay as Port marks major investment in safety and resilience MILFORD HAVEN’S new state-of-the-art pilot vessel...

Local Government4 days ago

Police and GoSafe to target speeding in Newport and Dinas

RESIDENTS’ concerns over speeding and anti-social driving have prompted planned enforcement action in the Newport and Dinas areas. Dyfed-Powys Police...

Community5 days ago

Safety first as Milford Haven’s new pilot boat marks end of troubled chapter

Gary Solomon, who was aboard St Davids during the 2016 collision, helped shape new self-righting vessel Llanion from conception to...

Crime5 days ago

Cocaine courier caught with £15,000 haul in Pembroke Dock

Defendant transported high-purity drugs from Cardiff to Pembrokeshire for £210 A PEMBROKESHIRE man caught transporting more than £15,000 of high-purity...

News5 days ago

Car bursts into flames near Redberth Croft as road closed after incident

Nobody injured after vehicle fire near A477 prompts emergency response A CAR was destroyed by fire near the entrance to...

Popular This Week