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Who Took Over Entain’s Leadership
Entain has named Stella David as its permanent CEO, ending a period of leadership uncertainty. David had been serving as interim boss since February, when Gavin Isaacs left after just five months in charge.
This marks David’s second stint as interim leader. She previously stepped in after Jette Nygaard-Andersen’s departure in late 2023. Before that, she chaired Entain’s board and has been a non-executive director since March 2021.
Shares jumped as much as 8% in London trading on Tuesday following the announcement.
Why Entain Needed Stability
The Ladbrokes owner has struggled with constant leadership changes, going through four CEOs in five years. These shifts frustrated investors and left the UK group open to takeover attempts.
The gambling firm has also faced serious regulatory challenges. It signed a deferred prosecution agreement in the UK over bribery allegations in Turkey. Meanwhile, Australia’s financial crimes watchdog launched legal proceedings against Entain over anti-money laundering rule breaches.
David told the Financial Times she had seen the company through “many, many challenges” and acknowledged it wasn’t her original plan to take the permanent role.
What This Appointment Means
Pierre Bouchut, Entain’s interim chair, said David brings “consistency and stability” to the company. The search for a permanent chair is still ongoing.
Despite its troubles, Entain reported an 11% year-on-year increase in first-quarter net gaming revenue at constant currency. This slightly beat both company and analyst expectations.
David admitted they “still have some big rocks to move” but noted she now feels “personally invested” in the business.
How This Impacts Entain’s Future
The appointment comes as Entain tries to recover from both corporate governance issues and a lagging share price. The company has fallen behind competitors like Flutter and Rank Group since mid-2023.
Double-digit revenue growth in both the UK and the booming US betting market (via its joint venture with MGM) helped drive recent performance improvements.
Analyst Ivor Jones from Peel Hunt described David as “a safe pair of hands” taking over just as the company’s investments in platform and products are “beginning to take off.”
Entain operates in more than 40 territories, including the US, which is now the world’s largest betting market.
