On August 28, 2025, the UK Crown Prosecution Service (CPS) announced charges against former GVC Holdings CEO Kenny Alexander, along with 10 others, for conspiracy to defraud and conspiracy to bribe. These charges arise from an extensive investigation into GVC’s activities related to gambling services in Turkey from 2011 to 2018. This marks a significant development in a prolonged legal saga that has drawn attention to corporate governance practices within the gambling industry.
The investigation, described by HMRC’s director of its fraud investigation service, Richard Las, as “complex and international,” has unveiled a web of alleged misconduct spanning several years. Las emphasized the severity of the charges, which include defrauding the public revenue, evasion of income tax, and perverting the course of justice.
Among those charged are key figures from GVC’s past, such as Lee Feldman, former GVC chairman, and Richard Cooper, who served as the company’s Chief Financial Officer until 2016. The allegations extend beyond GVC, implicating individuals like Robert Hoskin, Entain’s chief governance officer between 2020 and 2023, who faces charges of perverting the course of justice. Additionally, individuals linked to payment provider Ilixium, like co-founder Richard Raubitscheck-Smith, have also been charged.
The charges are a continuation of Entain’s legal troubles, following a deferred prosecution agreement reached in November 2023 where Entain agreed to a £585 million financial penalty. This agreement, coming after HMRC’s widened investigation into potential corporate offenses, marked an acknowledgment of historical misconduct involving former third-party suppliers and employees.
Entain’s transformation from GVC involved a series of strategic moves to distance itself from its controversial past. In 2019, GVC had denied ongoing profits from its former Turkey-facing subsidiary Headlong Limited after its sale to Ropso Malta Limited. However, the HMRC investigation continued to unravel potential misconduct, ultimately leading to the massive penalty and additional commitments, including a £20 million charitable donation and £10 million to cover CPS and HMRC costs.
Despite these settlements, the legal repercussions for former executives persist. The maximum penalty for conspiracy to defraud and conspiracy to bribe carries a potential 10-year prison sentence and/or an unlimited fine, underscoring the gravity of the alleged offenses.
The case also highlights a broader debate within the gambling industry regarding corporate governance and compliance. Some industry insiders argue that these legal challenges are emblematic of systemic issues that require more stringent regulatory oversight. Others, however, maintain that such incidents are outliers and not reflective of the industry’s operational norms.
In February, reports surfaced of Kenny Alexander and Lee Feldman taking legal action against Entain and the law firm Addleshaw Goddard for allegedly sharing privileged information with investigators. This legal maneuver adds another layer of complexity to the unfolding drama, as Alexander, in a March interview, proclaimed his departure from the gambling sector after a 24-year career, expressing no desire to return.
The controversy surrounding GVC and Entain serves as a cautionary tale for the gambling industry, emphasizing the importance of transparency and ethical conduct. While some stakeholders view the legal outcomes as necessary corrections, others caution against painting the entire sector with the same brush.
As the case progresses, it remains a focal point for discussions on how companies can better manage compliance and governance in an increasingly scrutinized industry. The outcome may set a precedent for how historical corporate misconduct is addressed, with implications for both current and future business practices in the gambling world.
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