Entain CEO hands in notice after six months

Shay Segev is to join sports streaming platform Dazn as co-CEO.
Shay Segev is to join sports streaming platform Dazn as co-CEO.

Shay Segev has given notice to leave the recently rebranded gaming giant.

UK.- The recently rebranded Entain, formerly GVC Holdings, is seeking a new CEO after Shay Segev handed in his notice just six months after stepping up to the position.

Segev, who will remain in the role until a new CEO is appointed, is leaving to join sports streaming platform Dazn as co-CEO.

He has been at GVC for five years, joining the group from Coral in 2016. He was chief operating officer before replacing Kenny Alexander as CEO in July.

Entain chair Barry Gibson said: “We are sorry that Shay has decided to leave us but recognise that we cannot match the rewards that he has been promised.

“Entain has a wealth of talent across its leadership team and the business has never been stronger.

“The company has delivered 20 quarters of double-digit online growth, and our future prospects have been substantially enhanced by our new strategy, which we set out in November.”

Segev said his new role at Dazn offered “a very different type of opportunity“. 

He will work as co-CEO alongside James Rushton, the firms’ former chief revenue officer, who has been serving as interim CEO since June. 

Segev said: “This role allows me to combine my passion for sport and transformative technology to disrupt and improve the consumer experience.”

Regarding Entain, he said: “Entain has a great team of leaders and an exciting future ahead through its growth and sustainability strategy, and I will do all I can to continue to support the company.”

Dazn was spun off from Perform Group in September 2018. 

Executive chairman John Skipper said: “This is an important moment for Dazn Group as we deepen our leadership team and ready the organisation for its next phase of growth.

“James has displayed tremendous leadership, navigating incredible challenges and achieving terrific results which have made us a stronger and more focused company.

“In Shay, we’re adding depth and fresh expertise to the team. He is recognised as one of the leading figures in online gaming and brings vast technology and operations experience to the role as well as an impressive track record in digital transformation.”

GVC Holdings rebranded as Entain in December in a bid to highlight its focus on responsibility.

The board last week rejected a takeover bid from US casino giant MGM Resorts, which offered 0.6 MGM Resorts shares for every Entain share.

MGM’s largest shareholder, InterActive Corp (IAC), has since confirmed it is willing to up its stake to allow MGM to increase its offer.

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