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...
Jette Nygaard-Andersen on the way to becoming new Entain CEO
The board of Entain Plc are reportedly in ‘advanced discussions’ concerning the appointment of Danish executive Jette Nygaard-Andersen as the new chief executive of the FTSE100 betting group.
Sky News reports that Nygaard-Andersen, who is the former EMEA Chief Executive of Swedish media conglomerate Modern Times Group, leads the pack to replace Shay Segev, the former CEO who announced his resignation just last week, and joining global OTT sports platform DAZN.
Nygaard-Andersen has been the Entain non-executive director since December 2019, guiding the FTSE firm on productive new market expansions and its digital strategy with regards to key platforms. If Nygaard-Andersen is confirmed, the executive would become the first female to lead a listed UK gambling enterprise.
Furthermore, Sky News also stated that Entain would like to announce a rapid CEO replacement after Segev’s departure, as the company holds off consistent takeover interest by US wagering partner MGM Resorts.
Informing investors of Segev’s departure, Entain highlighted that his decision had no part in the board’s decision to reject an £8 billion approach by MGM Resorts, which chairman Barry Gibson clarified had ‘significantly undervalued’ the firm’s future growth plans and strategies.
Beyond MGM interest, the Entain board is persistent on the fact that it is fully committed to delivering on the goals of its new ‘corporate charter’ which was announced in 2020, as it wants to lead on social responsibility and sustainability regulations.
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