The Financial Times has reported that online gambling operator Entain has confirmed that the company has exited 140 markets as part of its efforts to comply with recently instigated corporate responsibilities.

According to the report, Entain communicated the exit privately to its investors and employees that the company had exited markets which currently have no regulatory oversight and the prospect of a legal regulated online gambling market remains unlikely. This includes markets such as the Vatican City, Antarctica (?!!!), Russia, and Argentina among others.

The company noted in the internal communication:

“We closed 140 markets where revenues ranged from significant to de-minimis at the time of exit, but where customers could bet with us.”

Entain also noted that none of the markets it has now exited had previously generated significant revenues.

The move comes following an HMRC investigation into the company’s Turkish subsidiary that looked into allegations of bribery. That investigation led to a deferred settlement of £600 million and an assurance that the company would remove its brands from unregulated markets.

In relation to that case, Non-Executive Chair Barry Gibson noted:

“This legacy issue pertains to a business divested by a past management team six years prior. The company has undergone significant changes since then, and the DPA process has underscored the profound evolution from the GVC of the past to today’s Entain.

“We remain focused on advancing our operations exclusively within regulated markets and are acknowledged as a leading, responsible entity with unparalleled corporate governance across our business.”

 https://www.ft.com/content/479b761f-1e9d-4a40-8184-1416d3c501ae

https://gamblingindustrynews.com/news/business/entain-exits-140-markets/