High Stakes: Former Ladbrokes Execs Face Legal Action Over Bribery Charges

British prosecutors have brought charges against Kenny Alexander, the former CEO of GVC, and Lee Feldman, the past non-executive chairman, for alleged conspiracy to defraud and bribe. These charges pertain to GVC's gambling operations in Turkey from 2011 to 2018.

Both executives, along with nine others, are scheduled to make an appearance at London's Westminster Magistrates' Court on October 6. The charges do not implicate their former company, which was rebranded as Entain. Following the announcement by the Crown Prosecution Service, Entain clarified that none of the accused are current employees.

The market reacted to the legal proceedings as Entain's shares dipped on the London Stock Exchange, dropping 1.2% to 874.8 pence by 1151 GMT.

(With inputs from agencies.)