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11 Corporate information2Entain plc (“the Company”) is a company incorporated and domiciled in the Isle of Man on 5 January 2010 whose shares are traded 3publicly on the London Stock Exchange. The principal activities of the Company and its subsidiaries (“the Group”) are described in the 4strategic report. The consolidated financial statements of the Group for the year ended 31 December 2023 were authorised for issue in 5accordance with a resolution of the Directors on 7 March 2024. 6The nature of the Group’s operations and its principal activities are set out in Note 5.72 Basis of preparation8The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards 9adopted pursuant to Regulation (EC) No 1606/2002 as it applies to the European Union and in accordance with the requirements of the 10Isle of Man Companies Act 2006 applicable to companies reporting under IFRSs. The accounting policies set out in this section as detailed 11have been applied consistently year on year other than for the changes in accounting policies set out in Note 3.12The consolidated financial statements are presented in Pounds Sterling (£). All values are in millions (£m) rounded to one decimal place 13except where otherwise indicated. The separately disclosed items have been included within the appropriate classifications in the 14consolidated income statement. Further details are given in Note 6. 15Going concern16In adopting the going concern basis of preparation in the financial statements, the Directors have considered the current trading 17performance of the Group, the financial forecasts and the principal risks and uncertainties. In addition, the Directors have considered 18all matters discussed in connection with the long-term viability statement including the modelling of ‘severe but plausible’ downside 19scenarios such as legislation changes impacting the Group’s Online business and severe data privacy and cybersecurity breaches. 20Given the level of the Group’s available cash post the recent extension of certain financing facilities (see Note 36) and the forecast 21covenant headroom even under the sensitised downside scenarios, the Directors believe that the Group and the Company are well 22placed to manage the risks and uncertainties that it faces. As such, the Directors have a reasonable expectation that the Group and the 23Company will have adequate financial resources to continue in operational existence, for at least 12 months (being the going concern 24assessment period) from date of approval of the financial statements, and have, therefore, considered it appropriate to adopt the going 25concern basis of preparation in the financial statements.263 Changes in accounting policies27From 1 January 2023 the Group has applied, for the first time, certain standards, interpretations and amendments. The adoption of the 28following standards and amendments to standards did not have a material impact on the current period or any prior period upon transition:29– Amendments to IAS 1 Presentation of Financial Statements; disclosure of accounting policies;30– Amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors; definition of accounting estimates;31– Amendments to IAS 12 Income Taxes; deferred tax related to assets and liabilities arising from a single transaction; 32– Amendments to IAS 12 International Tax Reform Pillar Two Model Rules;33–  IFRS 17 Insurance Contracts; original issue.344 Summary of significant accounting policies 354.1 Basis of consolidation36The consolidated financial statements comprise the financial statements of the Group at 31 December each year. The consolidation 37has been performed using the results to 31 December for all subsidiaries, using consistent accounting policies. With the exception of a 38small number of immaterial subsidiaries, the financial statements of those subsidiaries are prepared to 31 December. Control is achieved 39where the Company is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect these 40returns through its power over the investee.41All intragroup transactions, balances, income and expenses are eliminated on consolidation.42Subsidiaries are consolidated, using the acquisition method of accounting, from the date on which control is transferred to the Group 43and cease to be consolidated from the date on which control is transferred from the Group. On acquisition, the assets and liabilities and 44contingent liabilities of a subsidiary are measured at fair value at the date of acquisition. Any excess of the cost of acquisition over the 45fair values of the separately identifiable net assets acquired is recognised as goodwill. Where necessary, adjustments are made to the 46financial statements of subsidiaries to bring the accounting policies used in line with those used by the Group.474.2 Critical accounting estimates and judgements48The preparation of financial information requires the use of assumptions, estimates and judgements about future conditions. Use of 49available information and application of judgement are inherent in the formation of estimates. Actual results in the future may differ from 50those reported. 511 Overview 8 Strategic report 88 Governance 140  Financial statements52Entain plc Annual Report 2023 16553Notes to the consolidated  54financial statements 55for the year ended  5631 December 2023