(Bloomberg) -- British sports betting company Entain Plc has appointed Gavin Isaacs as chief executive officer, replacing interim CEO Stella David, who took over in December following pressure from activists.
Isaacs, who takes over on Sept. 2, brings more than 25 years of experience in the betting, lottery and gaming industries and is currently a non-executive director of casino-style games development company Games Global Ltd., the company said in a statement on Monday. The Australian executive previously held leadership roles at gambling tech firm Bally Technologies and and lottery company Scientific Games Corporation.
Entain, which owns Ladbrokes and half of the BetMGM joint venture, has struggled with a declining share price even as its US revenue soared. Shares have fallen almost 50% over the past 12 months, and activist investors including Eminence Capital have complained about deal-making decisions taken by David’s predecessor, Jette Nygaard-Andersen.
Nygaard-Andersen, who joined in January 2021, stood down in December and was replaced on an interim basis by David. David will succeed Barry Gibson as chair after he retires at the end of September.
©2024 Bloomberg L.P.