Entain names Stella David as its permanent CEO; Q1 NGR up 9%
David stepped up to serve as Interim CEO after the departure of Gavin Isaacs.
Key Points
- David has been appointed as permanent CEO of Entain
- She has been operating in the interim position for several months
- The net gaming revenue (NGR) increased by 9% during this Q1 period
Stella David appointment
Entain has appointed Stella David as its permanent CEO following a period of her operating in an interim capacity.
David has been a member of Entain’s Board since 2021 and was appointed as Interim CEO following the sudden departure of the previous CEO, Gavin Isaacs.
On her appointment, David said: “Entain has a clear strategy and we are making great strides in strengthening our operational capabilities.
“Having taken the time to reflect, I am hugely excited to be leading the business going forward as Entain’s CEO as we accelerate our journey of improvement.
“Entain is a great business with significant potential and I am confident in its ability to deliver further success in the future.”
This decision confirms that after several years of potentially mismatched leadership, Entain is trying to stablize itself and prioritise strategic execution over bringing external perspectives into the company.
Good to know: Following her appointment, David will retain her Non-Executive Chair role at Norwegian Cruise Line Holdings
Pierre Bouchut, Entain Interim Chair, said: “The Board is delighted to have appointed Stella as CEO. She is an accomplished and commercial business leader with a long track record of success across multiple industries.
“Stella has played a pivotal role in shaping, implementing and executing the ongoing delivery of Entain’s strategy to drive value for our shareholders.
“She is highly regarded by our stakeholders, and her appointment provides consistency and stability as the business pursues its many growth opportunities.”
Q1 performance update
During the period from 1 January to 31 March, Entain noted that its net gaming revenue (NGR) increased by 9%, which supported its 34% growth in revenue as detailed in its Q1 report.
Online NGR went up by 6%, while retail saw a small level of growth in 1%.
BetMGM’s NGR increased by 34% and, according to Entain, is expected to be EBITDA positive by FY25.
Following these results, Entain has “increased confidence in delivering its revenue expectations of $2.4-$2.5bn and to be EBITDA positive in FY25”.
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