REG - Entain PLC - Appointment of Chief Executive Officer

EntainAnnouncement

22/07/2024 07:00

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RNS Number : 1866X  Entain PLC  22 July 2024

22 July 2024

 

THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIES AS INSIDE INFORMATION

 

 

Entain plc

("Entain" or the "Group")

 

Appointment of Chief Executive Officer

 

Entain plc (LSE: ENT), the global sports betting and gaming group, announces
that Gavin Isaacs has been appointed as Chief Executive Officer ("CEO"),
effective from 2 September 2024.

 

Gavin has over 25 years of experience across the global sports betting, gaming
and lottery industries. His broad leadership experience has been built through
previous roles within companies including Scientific Games Corporation,
DraftKings Inc, SB Tech, Bally Technologies Inc, and Aristocrat Technologies.
In 2022, Gavin was inducted into the American Gaming Association's Hall of
Fame, reflecting his extensive industry expertise leading and building a wide
range of businesses.

 

In line with the previously announced succession plan,
(https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4492947&lang=en-GB&companycode=lu-gvc&v=newdesign)
and to support a smooth transition, Stella David will work alongside Gavin
Isaacs before succeeding Barry Gibson as Chair of Entain following his
retirement on 30 September 2024.

 

Barry Gibson, Chair of Entain, said: "On behalf of the Board, I am delighted
to welcome Gavin to Entain. We are confident that his proven leadership and
operational experience mean that Gavin is the right person to take Entain into
its next chapter. I would also like to thank Stella David and Entain
colleagues for the significant operational improvements and progress made so
far towards our strategic priorities."

 

Stella David, Interim CEO & Chair Designate, said: "I am looking forward
to working with Gavin and transitioning into my new role as Chair of this
fantastic business. The positive progress we have already achieved means the
business has strong building blocks in place for the future. I am confident
that with Gavin's leadership we will realise the ambitious plans that we have
for Entain."

 

Gavin Isaacs, said: "I am very excited to be joining Entain. The company's
iconic brands, exceptional talent and ongoing execution of its refocused
strategy will enable the business to return to a leadership position across
all aspects. I am confident that Entain has an extremely bright future, and I
look forward to leading the Group in capitalising on the opportunities ahead
and creating value for all its stakeholders."

 

This announcement contains information that qualifies or may qualify as inside
information within the meaning of Article 7 of the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of English law by virtue of the European
Union (Withdrawal) Act 2018. The person responsible for releasing this
announcement on behalf of the Company is Simon Zinger, General Counsel.

 

Upon the publication of this announcement via a regulatory information
service, this inside information is now considered to be in the public domain.

 

Supplementary Information

 

About Gavin Isaacs

Gavin is currently a Non-Executive Director of Games Global Limited, an
iGaming content supplier incorporated in the Isle of Man, having previously
served as Chairman for two years. He has over 25 years of experience across
the global sports betting, igaming, gaming and lottery industries. In 2022, he
was inducted into the American Gaming Association's Hall of Fame, reflecting
his extensive industry expertise built by leading and building a wide range of
public and private businesses, from established multi-billion-dollar global
companies to innovative start-ups. Gavin was previously Chair of SB Tech prior
to its sale to DraftKings Inc in 2020 and has held a number of Board or
C-suite roles for companies including Scientific Games Corporation, DraftKings
Inc, SHFL Entertainment, Bally Technologies Inc, and Aristocrat Technologies.
He started his career practicing as a solicitor with large corporate law firms
in his native Australia.

Gavin holds a Bachelor of Commerce, Accounting and Financial Systems and a
Bachelor of Laws from the University of New South Wales, Australia as well as
a Master of Laws from the University of Sydney, Australia

 

Notification under Listing Rule 9.6.13

Prior to date of appointment, Gavin will step down as a Director of Galaxy
Gaming Inc, a US listed game content provider. Gavin was previously a
Non-Executive Director of DraftKings Inc. from April 2020 to May 2021.

No disclosure obligations arise under paragraphs (2) to (6) of Listing Rule
9.6.13.

 

Remuneration

All remuneration for Gavin Isaacs is in line with Entain's Remuneration Policy
("Policy"), as approved by shareholders in 2023. Further details are set out
below:

·      A basic annual salary of £875,000, in line with that received by
Stella David

·      A pension allowance of 6% of salary, in line with the maximum
employer contribution level available to our UK-based employees

·      Standard Entain executive benefits package, including an initial
period of relocation assistance to support with Gavin's move from the US

·      A maximum annual bonus opportunity of 250% of salary and a
maximum LTIP opportunity of 450% of salary, aligned with our Policy

·      Entitlement to participate in the annual bonus scheme for 2024
will be pro-rated to reflect time in role

·      A 2024 LTIP grant of 450% of salary. The Remuneration Committee
wished to ensure that Gavin was fully aligned to the successful delivery of
Entain's strategy and shareholders' interests from the start of his time in
role

·      Gavin will be required to build a shareholding in Entain to the
value of 450% of his salary

·      Gavin will receive a buy-out award to compensate for awards
forfeited on leaving another role to join Entain. In line with the provisions
of our Policy, the award will be made on a fully like-for-like basis with the
forfeited original award in terms of value and vesting and holding period
timeframes

Full details of Gavin Isaacs' remuneration will be included in our 2024
Directors' Remuneration Report.

 

 

 

Enquiries:

 Company Secretary                      secretary@entaingroup.com (mailto:secretary@entaingroup.com)
 Investor Relations                     investors@entaingroup.com (mailto:investors@entaingroup.com)
 Media                                  media@entaingroup.com
 Sodali & Co                            Tel: +44 (0) 20 7250 1446

Rob Greening/Russ Lynch/Sam Austrums

                                        entain@sodali.com

 

 

About Entain plc

Entain plc (LSE: ENT) is a FTSE100 company and is one of the world's largest
sports betting and gaming groups, operating both online and in the retail
sector. The Group owns a comprehensive portfolio of established brands: Sports
brands include BetCity, bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds,
Sportingbet, Sports Interaction, STS, SuperSport and TAB NZ; Gaming brands
include Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and
PartyCasino. The Group owns proprietary technology across all its core product
verticals and in addition to its B2C operations provides services to a number
of third-party customers on a B2B basis.

The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and
iGaming in the US. Entain provides the technology and capabilities which power
BetMGM as well as exclusive games and products, specially developed at its
in-house gaming studios. The Group is tax resident in the UK and is the only
global operator to exclusively operate in domestically regulated or regulating
markets operating in over 30 territories.

Entain is a leader in ESG, a member of FTSE4Good, the DJSI and is AA rated by
MSCI. For more information see the Group's website: www.entaingroup.com
(https://eur03.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.entaingroup.com%2F&data=05%7C01%7CEmily.Carey%40entaingroup.com%7C89986aa3574b4384d55c08db10dbbe93%7C60c43c0a64ac4050bf3e31e1cdfffdeb%7C0%7C0%7C638122308205799396%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=XNdgGlXYdOaFRljkqU6Ae%2BTjlt%2B4xA90bacwAGAunqc%3D&reserved=0)

 

Notes for Editors

1.     The appointment of Gavin Isaacs as Chief Executive Officer was made
by the Board following an extensive search facilitated by an external
recruitment consultancy firm.

 

2.     Career history and other appointments of Gavin Isaacs:

2022 - present         Games Global Limited, Non-Executive Director
(previously Chairman until July 2024)

2021 - present          I.C. Intelligence LLC (Spotlight), Board
Director

2019 - present         Galaxy Gaming Inc, Board Director

2019 - present          PureSoftware, Advisor to the Board

2019 - 2024  Jackpocket, Advisor to the Board

2020 - 2021 DraftKings Inc., Non-Executive Director

2019 - 2020 SB Tech, Chairman

2016 - 2018 Scientific Games Corporation, Vice Chairman

2014 - 2016 Scientific Games Corporation, President & Chief Executive
Officer

2013 - 2014 McAndrew and Forbes Holdings, Executive Vice-President

2011 - 2013 SHFL Entertainment Inc., Chief Executive Officer

2006 - 2011                Bally Technologies Inc., Chief
Operating Officer and Executive Vice President

2003 - 2006                Aristocrat Technologies Inc.,
President Americas

1999 - 2003                Aristocrat Technologies Inc.,
Various roles in Australia in Marketing and Legal & Compliance

1993 - 1999                Phillips Fox Law, Sydney (now DLA
Piper) - Solicitor and appointed Partner in 1996

 

3.     The Board of Directors of Entain plc as at the date of this
announcement is as follows:

·      Barry Gibson, Chairman of the Board

·      Stella David, Interim Chief Executive Officer

·      Rob Wood, Chief Financial Officer and Deputy CEO

·      Pierre Bouchut, Senior Independent Director

·      David Satz, Independent Non-Executive Director

·      Amanda Brown, Independent Non-Executive Director

·      Virginia McDowell, Independent Non-Executive Director

·      Rahul Welde, Independent Non-Executive Director

·      Ricky Sandler, Non-Executive Director

·      Ronald J. Kramer, Independent Non-Executive Director

·      Helen Ashton, Independent Non-Executive Director

 

LEI: 213800GNI3K45LQR8L28

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