Jul 21, 2020
Ladbrokes owner GVC faces probe by UK tax authority
Ladbrokes owner GVC has said it is "Surprised" the UK's tax body is widening an inquiry into "Potential corporate offending" related to its former Turkish online gambling unit. It said HM Revenue & Customs had expanded its probe into suppliers GVC used in Turkey to include other entities within its group. "HMRC has not yet provided details of the nature of the historic conduct it is investigating, with the exception of a reference to section 7 Bribery Act 2010, nor has it clarified which part of the GVC group is under investigation." In July 2019, GVC was forced to deny reports that it was still benefiting from its former Turkish subsidiary, stressing that it no longer had ties with the business. "The board re-iterates the fact that subsequent to the disposal of the group's Turkish-facing business, GVC has no activity either directly or indirectly linked to the Turkish market," GVC said.
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