Entain Appoints Gavin Isaacs as New CEO Starting September 2024

Entain has announced the appointment of Gavin Isaacs as its new CEO, effective September 2, 2024.

Isaacs brings over 25 years of experience in the sports betting, gaming, and lottery sectors. His previous roles include leadership positions at Scientific Games Corporation, DraftKings, and Aristocrat Technologies.

As part of a succession plan, Stella David will collaborate with Isaacs before taking over as Chair of Entain from Barry Gibson on September 30, 2024. Gibson expressed his enthusiasm about Isaacs' appointment, stating that his extensive leadership and operational expertise make him well-suited to guide Entain through its next phase of growth.

Isaacs has held notable positions in the industry, including serving as Chair of SB Tech prior to its acquisition by DraftKings in 2020, and roles at SHFL Entertainment and Bally Technologies. Currently, he is a Non-Executive Director at Games Global, an iGaming content supplier.

Earlier this year, Entain completed a strategic review that underscored the long-term growth potential of its portfolio. The review identified certain assets for sale, such as Crystalbet, a Georgian gaming brand, and emphasized the company’s focus on organic revenue growth, margin expansion, and leveraging the US market, particularly through BetMGM.

In terms of operational performance, Entain has seen double-digit revenue growth in Brazil and positive results in Central and Eastern Europe. However, the company faced mixed financial outcomes with declines in the UK and Ireland segments in the first quarter of 2024, while experiencing significant growth in Central and Eastern Europe.

Additionally, Entain is addressing a potential £100 million ($129 million) litigation claim related to its former Turkish operations, following a £585 million penalty paid in 2023 for bribery-related offences. The company has stated it will defend any such claims vigorously.

Isaacs' compensation package includes an annual salary of £875,000, a pension allowance, and a benefits package that aligns with Entain's shareholder-approved policy. He will also be involved in the company's bonus and long-term incentive plans, designed to align his interests with the company's strategic goals and shareholder expectations.