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UK tax office widens probe into former GVC Turkish gambling unit

Ladbrokes owner GVC Plc said on Tuesday that British tax authorities had expanded an investigation into the gambling company's former online business in Turkey to include unidentified entities within the London-listed group. The probe by the HM Revenue & Customs (HMRC) began late last year and was then directed at former third-party suppliers over processing of payments at the business GVC disposed off in December 2017, the company said.

Reuters | London | Updated: 21-07-2020 12:29 IST | Created: 21-07-2020 12:24 IST
UK tax office widens probe into former GVC Turkish gambling unit
Representative Image Image Credit: Pixabay

Ladbrokes owner GVC Plc said on Tuesday that British tax authorities had expanded an investigation into the gambling company's former online business in Turkey to include unidentified entities within the London-listed group.

The probe by the HM Revenue & Customs (HMRC) began late last year and was then directed at former third-party suppliers over-processing of payments at the business GVC disposed of in December 2017, the company said. GVC, whose long-time Chief Executive Officer Kenny Alexander stepped down last week, said that it was cooperating with the HMRC on the investigation, but was "disappointed by the lack of clarity" over the scope of the investigation.

It said that HMRC had made a reference to section 7 of the Bribery Act 2010, but the company did not have any further details. The HMRC could not be immediately reached for comment outside of business hours.


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