Ladbrokes and Coral owner to pay £585m to settle HMRC bribery inquiry

The £585m payment involves a financial penalty, as well as a ‘disgorgement of profits', a charitable donation and a contribution to HMRC and CPS legal costs. Photograph: Andy Rain/EPA

The owner of Ladbrokes and Coral has agreed to pay almost £600m to settle an investigation into alleged bribery at a business it owned in Turkey.

Entain said it had reached an agreement with HM Revenue and Customs which will make the gambling giant pay a total of £585m in the form of a financial penalty and a “disgorgement of profits”.