Entain, formerly known as GVC Holdings, owns Ladbrokes and Coral betting sites and shops, and is headquartered and incorporated in the Isle of Man. The latest reported revenues total £4.8bn, with underlying operating profit of £641.8m.

KPMG has been auditor of Entain for six years since June 2018, and earned total audit fees of £3.6m for year end 2023 audit. For the year under investigation, KPMG earned £3.2m in total audit fees.

The FRC probe will focus on FY 2022, but did not give further details about the scope of the investigation.