Entain names Stella David as CEO on permanent basis
David takes the helm after a strong first quarter for the British gambling operator.
UK.- London-listed Entain Plc has announced that Stella David will become its permanent new CEO. David has been serving in the position on an interim basis for the second time since the surprise announcement of Gavin Isaacs’ resignation in February after just five months in the position.
David previously served as interim CEO between the departure of Jette Nygaard-Andersen in December 2023 and the arrival of Isaacs on September 2 2024. Entain, whose brands include Ladbrokes and Coral, says David will take on the role permanently with immediate effect.
David joined Entain’s board in March 2021. She previously served as CEO of William Grant & Sons and chair of C&J Clark and spent 15 years in senior positions with Bacardi alongside non-executive roles at Homeserve, Nationwide Building Society, Vue International and Domino’s Pizza Group. Entain said she would retain her non-executive chair role at Norwegian Cruise Line Holdings.
Interim chairman Pierre Bouchut said: “The Board is delighted to have appointed Stella as CEO. She is an accomplished and commercial business leader with a long track record of success across multiple industries.
“Stella has played a pivotal role in shaping, implementing and executing the ongoing delivery of Entain’s strategy to drive value for our shareholders. She is highly regarded by our stakeholders, and her appointment provides consistency and stability as the business pursues its many growth opportunities.”
David said: “Entain has a clear strategy and we are making great strides in strengthening our operational capabilities. Having taken the time to reflect, I am hugely excited to be leading the business going forward as Entain’s CEO as we accelerate our journey of improvement. Entain is a great business with significant potential and I am confident in its ability to deliver further success in the future.”
Entain said at the time that Isaacs left the company by mutual agreement and that the change in leadership would have no impact on its financial performance, maintaining its upgraded guidance of EBITDA at £1,040m–£1,090m for 2025.
The company is still in the midst of a strategic reorganisation amid some investor discontent over its strategy of expansion through acquisitions. It’s also faced the setback of regulatory settlements, including in relation to historic bribery accusations in Turkey. More recently, it had some positive news on the legal front when the European Commission (EC) closed its investigation into Ladbrokes’ operations in Belgium, clearing the Entain-owned betting brand of breaches of European competition law.
Q1 results saw a 9 per cent rise in net gaming revenue. Online revenue excluding the US was up by 6 per cent, driven by strong volume in the UK and Brazil. UK & Ireland online revenue was better than forecast, rising by 23 per cent year-on-year, while revenue from Brazil rose by 31 per cent. The joint venture with MGM Resorts, BetMGM, saw growth of 34 per cent.
