Entain announces the appointment of Gavin Isaacs as Chief Executive Officer, effective from September 2, 2024.
Gavin Isaacs has over 25 years of experience in the sports betting, gaming, and lottery industries, having held leadership positions at companies such as Scientific Games Corporation, DraftKings, and Aristocrat Technologies.
Following a previously announced succession plan, Stella David will work alongside Isaacs and will replace Barry Gibson as Chairman of Entain on September 30, 2024.
Gibson commented, "On behalf of the board, I warmly welcome Gavin to Entain. We believe that Gavin’s outstanding leadership qualities and extensive operational experience make him the ideal candidate to lead Entain into a new chapter."
Isaacs' career includes serving as the Chairman of SB Tech (sold to DraftKings in 2020), as well as roles at SHFL Entertainment and Bally Technologies. He is currently a non-executive director at iGaming content provider Games Global.
Entain's strategic assessment was completed earlier this year, highlighting the long-term growth potential of its portfolio and identifying assets for sale, including the Georgian gaming brand Crystalbet. The assessment emphasized the company's focus on organic revenue growth, expanding profit margins, and leveraging the U.S. market, especially through its BetMGM brand.
Operationally, Entain achieved double-digit revenue growth in Brazil and performed well in Central and Eastern Europe. However, the company had a mixed financial performance, with revenue decline in the UK and Ireland division in Q1 2024, while the Central and Eastern Europe division saw significant growth.
The company also resolved a potential litigation claim of £100 million ($129 million) related to its former Turkish operations, following a £585 million fine paid in 2023 for bribery-related offenses. Entain stated it would vigorously defend against any such lawsuits.
Isaacs' compensation package includes an annual salary of £875,000, pension contributions, and benefits in line with the policy approved by Entain shareholders. He will also participate in the company’s bonus and long-term incentive plans, designed to align his interests with the company’s strategic objectives and shareholder interests.
