Entain stock surges on takeover rumors
There have been recent reports suggesting large private equity companies are considering purchasing all or a portion of Entain.Entain's stock price has increased by five...
Entain seeks widescale reform in gaming and betting industries
Sports betting and gambling operator Entain has stressed on its dedication to dramatically stir up these two industries it operates in, including taking a responsible and diversified perspective when it comes to such changes.
As a result of providing a brand new corporate structure throughout the past year, Entain has provided its annual report as well as its gender pay gap report. It is now hoping to acquire a portion of an estimated $50 billion in gross gaming revenues in different markets across the world, including the regulated markets in Africa, Latin America, and Central & Eastern Europe, where the operator currently has not expanded yet.
Non-executive chairman at Entain, J M Barry Gibson, stated:
“Under our new corporate identity, we will continue to use our unique technology platform to build on the exceptionally strong momentum that we have in our existing markets, grow into new markets, reach new audiences, enhance the customer experience, and provide industry-leading levels of player protection.”
Entain has noted that this type of growth will present itself through many chances that will be based on leadership in the United States, expansion into new markets and new audiences, as well as growth across its current main markets. The operator is now expecting a US market share of around 18% in all the states that BetMGM currently operates in.
The company also recently witnessed a massive increase of 27% in revenue up to £2.68 billion for the group’s online division throughout the past year, and it is now stating that it needs to adapt in order to improve and grow across new markets.
Jette Nygaard-Andersen, CEO of Entain, said:
“We plan on growing and evolving the business in a responsible way. We will grow in a way that is underpinned by sustainability, responsibility and player protection. Technology is the beating heart of our business. It is what powers us and distinguishes us from our competitors, supports our customer centric focus and ensures value creation. Owning our technology means that over 3,000 world class developers are focused on delivering exclusively for our customers, and that we are in control and not reliant on third party management teams with their own challenges and demands. It gives us the flexibility, agility and scale to deliver on all of our strategic priorities, at pace.”
Moreover, Entain has presented its report for gender pay gap, stating that there has been some noticeable improvement but also mentioning that the group is aware that it can improve in this department. Currently, as revealed in the report, the company’s median gender pay gap throughout the United Kingdom is 7.1% and the median bonus gap is 13%, and 40% of female employees at Entain UK, along with 41% of male employees, have received a bonus.
Nygaard-Andersen concluded by saying:
“Here at Entain we are committed to the development of our people and we are proud to announce that our median hourly pay gap is 7.1 per cent, which, for another year, is lower than the national average of 15.5 per cent. This is largely due to our gender parity in our retail business. We are a business committed to our employees and being the best place to work and although our gender pay gap has increased by three percentage points since last year, our commitments to this agenda are part of how we do business. These figures are driven by our retail estate where 54 per cent of our people are women. We are number one in our industry on inclusion but we know we can do better to ensure everyone’s in the game.”
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