Michael Snape named Entain CFO as Rob Wood to step down after 13 years
Michael Snape will take over finances at Entain in what will be a crucial year for the British gambling operator.
UK.- The FTSE-listed gambling operator Entain has appointed Michael Snape as its next chief financial officer. He will take up the role on March 6, 2026, as Rob Wood steps down after 13 years overseeing the finances of the group that now owns brands such as Ladbrokes, Coral and Bwin.
Snape will begin working as CFO designate in February and will also join Entain’s board as an executive director.
He previously served as group CFO at International Distribution Services (IDS), group CFO at Boots’ No.7 Beauty and International unit and as international CFO at the supermarket giant Tesco.
Snape’s appointment comes ahead of what will be a testing year for Entain’s finances given that UK gambling tax on online casino games will rise from 21 to 40 per cent from April 1. A rise in General Betting Duty (GBD) from 15 to to 25 per cent will follow in March 2027. Entain can be glad that retail betting was spared from the tax hikes given its significant presence on the high street through Ladbrokes Coral.
Entain has said it expects to mitigate around 25 per cent of the impact of the gambling tax hike by cost-saving actions like reducing marketing and promotions. It expects an EBITDA impact of around £100m in 2026 and £150m from 2027. However, CEO Stella David has also signalled a potential benefit for the operator, suggesting that Entain may gain more players if smaller operators are forced to fold because of the tax rises.
The end of an era at Entain
Wood joined the then GVC Holdings in 2012 as retail CFO. He was promoted to Group CFO in 2018 soon after the group’s £4bn acquisition of Ladbrokes Coral, a landmark deal that reshaped the British gambling sector and put GVC up with Betfred and William Hill on the podium of the UK’s biggest gambling operators.
In 2021, Wood’s responsibilities were expanded when he was named deputy CEO under Jette Nygaard-Andersen. His tenure coincided with several milestones, including the 2018 launch of the BetMGM joint venture with MGM Resorts in the US and the acquisition of SuperSport in Croatia in 2022.
Reflecting on his departure, Wood stated: “It has been a privilege and a pleasure to be part of Entain’s growth over the last 13 years, and I am proud of the transformation the Group has undergone during that time. With Entain’s and BetMGM’s pathway to long term success well established, now is the right time for me to pass the reins on, and I am confident that the Group has an extremely bright future.”
