Gambling giant Entain announced that CEO Gavin Isaacs has stepped down with immediate effect, just five months after taking the helm.
In an investor update, the company said Stella David, Entain’s Non-Executive Chair, will resume the role of interim CEO while a search for a permanent replacement is conducted. Pierre Bouchut, currently Senior Independent Director, will take over as Non-Executive Chair on an interim basis.
Isaacs, who joined Entain in September 2024, has a long history in the gambling industry, having previously served as Chair of Games Global and held senior positions at DraftKings, Jackpocket, SBTech, Scientific Games, SHFL, Bally Technologies, and Aristocrat.
Entain did not specify a reason for Isaacs’ departure, describing it as a "mutual decision."
Following the announcement, Entain’s shares dropped 9.59% to 671.00 pence per share on the London Stock Exchange. Despite the leadership shake-up, the company reaffirmed its FY2024 EBITDA guidance at the top of the £1.04 billion ($1.29 billion) to £1.09 billion ($1.35 billion) range.
Entain is set to release its full-year results and an update on current trading on March 6, 2025.
In a statement, Interim CEO Stella David said: “Entain is making strong progress in delivering our strategic priorities. We would like to thank Gavin for his contribution. The board and management remain aligned on the group’s focus on operational excellence and maximizing shareholder value.”
