(Entain)

Entain Records Nearly Billion-Dollar Losses in 2023

Entain, a prominent gambling corporation, disclosed a substantial loss of £936.5 million in 2023, primarily attributed to elevated costs related to tax and HM Revenue and Customs (HMRC). The losses include significant fines, notably £585 million for violations associated with the operator's previous Turkish operations.

Despite a commendable 11% increase in net revenue, reaching £4.83 billion in 2023 across all key business segments, the surge in costs and losses surpassed the revenue growth for Entain.

As part of a settlement with HMRC and the Crown Prosecution Service (CPS), Entain is obligated to make a £20 million charitable donation, along with an additional £10 million to cover the costs incurred by the CPS and HMRC.

8 March 2024, 14:07

Finance Entain

Finance

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