(Credit: Ricochet64 - stock.adobe.com)

The probe, announced in January 2025, centred on Entain’s financial statements for the year ended 31 December 2022. It followed significant legal troubles for the gambling giant, which had agreed to pay a financial penalty of £585 million, alongside a £20m charitable donation and a £10m contribution, after entering into a deferred prosecution agreement (DPA) with the Crown Prosecution Service (CPS).

Separately, the CPS charged 11 individuals, including five former Entain executives, with offences including bribery and conspiracy to defraud, in connection with the company’s former Turkish business.

KPMG had previously stated that it would cooperate fully with the FRC to resolve the matter as swiftly as possible. However, the regulator confirmed on Thursday that it would not be pursuing the case further.

In a press statement, the FRC said: “Having reviewed the evidence obtained in the investigation, and having considered all relevant factors, the FRC’s Executive Counsel has decided not to bring Enforcement Action.

“Therefore, in accordance with Rule 146 of the AEP, Executive Counsel has decided that the Respondents to the investigation should no longer be liable for Enforcement Action. Accordingly, the case has been closed.”