Reported by: Emma Dunkley

Austrac, Australia’s financial crime watchdog, is investigating Entain to check whether the London-listed betting company has complied with anti-money laundering and counter-terrorism financing rules.

Entain Australia, which last year accounted for about a tenth of group revenue, said it was “co-operating with the investigation which relates to the historical period from July 2016 to June 2020”. Shares in Entain were flat at £12.30 in early afternoon trading on Monday.

Austrac’s investigation into Entain is the latest blow for the FTSE 100 company. It was hit with a £17mn fine last month, the largest ever penalty issued by the UK’s gambling regulator, for anti-money laundering and social responsibility failures.

Entain is one of the largest betting groups globally. It has more than 4,400 betting outlets in the UK and Europe, and has a joint venture with MGM Resorts in the US. It owns sports betting brands, including bwin and Eurobet, and gaming brands such as Partypoker and PartyCasino.

Read Full Report: https://www.ft.com/content/f70be70e-3b05-40ad-ad5e-7b8e44e2d08c