Ladbrokes Owner Entain's CEO Gavin Isaacs Steps Down After Five Months In Charge

After just five months in the role, British bookmaker Entain's chief executive officer (CEO) Gavin Isaacs has announced his resignation. Entain, which owns Ladbrokes and Coral, said the stepping down was by "mutual agreement" and anointed non-executive chair Stella David as interim CEO. (More Sports News)

David has essayed the temporary role earlier as well, following the sudden departure of Entain's previous CEO Jette Nygaard-Andersen in December 2023 after reports of shareholder and investor dissatisfaction.

A Reuters report cited Davy Research analysts as saying that there were "unreconcilable differences" between Isaacs and the board despite their alignment on group strategy. Officially, Entain did not proffer any reasons for the development.

The 60-year-old Isaacs, an American stalwart in the sports betting and gaming industry, was earlier a board member at the United States-based DraftKings (DKNG.O), which walked away from a 22-billion US dollar buyout bid for Entain in 2021. He officially took the role with Entian on September 1, 2024, and brought with him over 25 years of experience in the betting and gaming industries, having earlier held leadership posts at casino games development company Games Global, gambling tech firm Bally Technologies, and lottery company Scientific Games.

After the news of Isaacs' resignation, shares of Entain, now valued at 5.89 billion US dollars, fell as much as 12%, and are down 70% from a record high hit in 2021. The report adds that analysts are worried that the absence of a permanent head might make Entain a takeover target from overweight rivals and private equity outfits.

"Entain is at a critical point in its turnaround journey, so the timing of this is unfortunate and will likely cause investor concerns, particularly with an outstanding regulatory issue," Davy Research analyst Paul Ruddy was quoted as saying in the report.