Entain’s deputy CEO has resigned as the company faces legal challenges over alleged money laundering.
Entain is the parent company of some of the biggest names in sports betting and gaming, running well-known gambling brands such as Ladbrokes in the UK.
As reported by The Guardian, Lachlan Fitt, who has held the company’s chief financial officer position since 2018, announced his departure from the gambling giant earlier this week.
Fitt said: “After a decade as an international wagering executive, now is the right time to move on to my next chapter.
“I am grateful to Entain for backing me, and particularly for the recent opportunity to work on starting the revitalization of the New Zealand racing industry.”
It’s Entain’s third major blow after losing the NZ managing director Cameron Rodger and global CEO Gavin Isaacs, who took the position in September last year.
Entain’s legal troubles
The loss of three executive members comes at a troubling time for the Ladbroke’s owner, which has been facing legal pressures from Australia’s financial intelligence agency (Austrac) since December 2024.
2025 marks the year Australia cracks down on gambling companies, with recent cases including Network 10 breaching gambling ad rules during last year’s Grand Prix.
Entain has been taken to federal courts by Austrac over alleged “non-compliance with anti-money laundering and counter-terrorism financing laws.” The gambling operator has been accused of taking $152 million in bets from 17 users who had “suspected criminal profiles” and were potentially laundering money when gambling, federal court documents allege.
Back in December, Isaacs said: “We have cooperated fully with Austrac throughout its investigation, and we are implementing further enhancements to Entain Australia’s anti-money laundering and counter-terrorism compliance arrangements.
“We are committed to keeping financial crime out of gambling and continue to play our part in supporting a well-regulated and compliant sector for our customers, stakeholders, and the wider community.”
ReadWrite does not allege wrongdoings or accuse guilt to Fitt, Rodger, or Isaacs, who were not included in the legal case between Austrac and Entain.
Since the case was announced last year, Entain’s shares have dropped 6% following Austrac’s allegations that it “deliberately obscured” high-risk customers’ identities. Entain has been facing financial troubles since 2024, as investors sought a £100m pay-out from Ladbrokes and Coral owner Entain as shares halve.
Featured image: Entain.
