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Ladbrokes owner under investigation

by LLB Editor
21st Jul 20 10:02 am

The Ladbrokes Coral owner,GVC Holdings, has warned shareholders that it is under investigation by HM Revenue & Customs (HMRC).

The FTSE 100 company said it received an order requiring it to produce information relating to the group’s former Turkish-facing online gambling business in November last year.

“Following requests for clarity from HMRC as to the status of its investigation … HMRC yesterday informed the Company that it was widening the scope of its investigation and is now examining ‘potential corporate offending’ … within the GVC group,” Britain’s biggest bookmaker said in a brief stock exchange statement.

Last week Kenny Alexander, the group’s former chief executive, surprised investors by announcing that he would retire after 13-years as chief executive and would be replaced by his lieutenant. He stepped down immediately.

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