Entain head of M&A steps down amid end of controversial strategy

Nicholas Batram is stepping down after eight years at the gambling giant.

UK.- Nicholas Batram, Entain’s group head of M&A and corporate development, has announced that he will leave the company after eight years. He leaves to work as a freelance consultant in M&A, financial communications, strategy and corporate finance.

Announcing the news on LinkedIn, Batram wrote: “After nearly eight amazing years at Entain the time is right for me to undertake a new challenge and have a go at being my own boss. It’s been a privilege to have been part of the fantastic transformational journey the group has been on over this period.

“Despite the many challenges faced by the industry and retail in particular, the generosity of both our customers and colleagues is truly inspirational.”

Batram has led group M&A for Entain since January 2019. His tenure included 11 acquisitions, including BetCity in the Netherlands, Unikrn and Poland’s STS and Croatia’s SuperSport through Entain CEE. But the spree of deals has proved to be controversial. The activist investor Eminence Capital argued that Entain’s strategy of funding acquisitions with undervalued share capital was illogical.

Batram’s departure comes less than a month after Jette Nygaard-Andersen’s sudden resignation as Entain CEO. In November, the company had signalled a change in its M&A strategy, saying that it had listened to criticism and would adopt a slower pace for acquisitions. Interim CEO Stella Davis continues to deal with activist shareholders amid renewed speculation that it could itself become a target for a takeover.