Five months into his tenure, Gavin Isaacs is no longer the Chief Executive Officer at Entain.
The global sports betting and iGaming operator that owns popular brands Ladbrokes, Party Poker, and BetMGM announced a “mutual agreement” on Tuesday for Isaacs to immediately step down as CEO.
Entain non-exectuive chair Stella David has been named interim CEO while senior independent director Pierre Bouchut will serve David’s previous role on an interim basis.
Tuesday, Entain’s shares fell by as much as 12% on England’s Financial Times Stock Exchange.
There were “unreconcilable differences” between Isaacs and Entain’s board about the company’s strategy, according to a Reuters report.
“Entain is making strong progress in delivering our strategic priorities,” David said in a statement released by the company. “We would like to thank Gavin for his contribution. The Board is pleased with the Group’s performance in 2024 and trading so far this year. Group EBITDA is expected to be at the top of the £1,040m-£1,090m guidance range.
“The Board and management remain aligned on the Group’s focus on operational excellence and maximizing shareholder value. I look forward to leading the business as we continue to accelerate our performance.”
Executive decisions
David served as interim CEO from December 2023 through September 2024 when Isaacs took over the executive position. He was hired in July 2024 after serving as CEO at Scientific Games and chairman at Games Global before joining Entain.
Isaacs has been involved in the global gaming industry for more than 25 years and previously worked at DraftKings, Bally, and Aristocrat.
His role in sports betting, iGaming, and lottery companies led to an induction into the American Gaming Association’s Hall of Fame in 2022.
Turmoil at the top
Entain has been embroiled in unrest over the last couple of years and potentially massive changes. The gaming company reached a $737 million settlement in 2023 over alleged bribery offenses made by former leadership with a Turkish business.
That led former Entain CEO Jette Nygaard-Andersen to step down and eventually clear the way for Isaacs to join the executive staff.
Entain ran into issues in December 2024 when Australian regulators launched legal proceedings after alleging that the gaming operator breached the country’s anti-money laundering and counter-terrorism financing laws through its mobile platforms.
Keep an eye on the future
Entain considered selling off assets last year, and the latest CEO issues could make the company ripe for a potential takeover, according to the Reuters report. The company had a better-than-expected 2024 third quarter financially.
Entain said Tuesday it is “comfortable with market expectations for FY2025.” Details on its 2024 fiscal year results will be released on March 6.
The company owns sports betting, iGaming, and lottery brands across Europe, including the U.K., Italy, and the Netherlands, as well as Australia and South America.
Entain also operates in Canada and is established there and in the U.S. through its 50-50 ownership of BetMGM with MGM Resorts International.
