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Entain has announced the appointment of Gavin Isaacs as CEO, effective 2 September 2024.
Isaacs, who has over 25 years of experience in the sports betting, gaming and lottery industries, has held leadership positions at companies including Scientific Games Corporation, DraftKings and Aristocrat Technologies.
In accordance with a previously announced succession plan, Stella David will work alongside Isaacs before succeeding Barry Gibson as Chair of Entain on 30 September 2024.
Gibson commented: “On behalf of the Board, I am delighted to welcome Gavin to Entain. We are confident that his proven leadership and operational experience mean that Gavin is the right person to take Entain into its next chapter.”
Isaacs’ career includes roles as Chair of SB Tech before its sale to DraftKings in 2020 and positions at SHFL Entertainment and Bally Technologies. He is currently a Non-Executive Director at Games Global, an iGaming content supplier.
Entain’s strategic review, concluded earlier this year, highlighted its portfolio’s long-term growth potential and identified assets for sale, including Crystalbet, a gaming brand in Georgia. The review emphasised the company’s focus on organic revenue growth, expanding margins and capitalising on the US market, particularly through its BetMGM brand.
Operationally, Entain reported double-digit revenue growth in Brazil and positive performance in Central and Eastern Europe. However, it has faced mixed financial results, with declines in the UK and Ireland segments in the first quarter of 2024, contrasted by significant growth in the Central and Eastern Europe segment.
The company also addressed a potential £100m ($129m) litigation claim related to its former Turkish operations, following a £585m penalty paid in 2023 for bribery-related offences. Entain stated it would defend any such action robustly.
Isaacs’ remuneration includes an annual salary of £875,000, a pension allowance and a benefits package, in line with Entain’s shareholder-approved policy. He will also participate in the company’s bonus and long-term incentive plans, which aim to align his interests with the company’s strategic goals and shareholder interests.
