UK Betting Giant Faces Tax Probe Over Turkish Business

Law360, London (July 21, 2020, 6:31 PM BST) -- The owner of betting giants Ladbrokes and Coral warned investors Tuesday that it is being investigated by HM Revenue & Customs over its former Turkish-facing online gambling business in relation to bribery offenses.

GVC Holdings (UK) Ltd. said it was "surprised" by the tax authority's decision to widen a probe into "potential corporate offending" related to its former Turkish unit, which it sold in 2017.

It said that HMRC had expanded the inquiry into suppliers GVC used in the country to include other entities within the group and that it was cooperating with the investigation.

GVC said it was informed on...

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