Gavin Isaacs lasted just 161 days as Entain’s CEO. The UK gambling group announced his sudden departure on Tuesday, sending the company’s share price plummeting 11%.
The statement didn’t go into any reasons for the move, saying it was a “mutual agreement” and that current non-executive chairperson Stella David will temporarily step into the role. She tried to quell investor concerns by saying: “Entain is making strong progress in delivering our strategic priorities.”
Analysts at Irish investment bank Davy said the board and Isaacs had “irreconcilable differences.”
Previous CEO Jette Nygaard-Andersen held the role for almost three years before her resignation in December 2023 due to the company’s struggling share price and poor M&A decisions.
took over the position in September after an extensive seven-month search for a replacement
Isaacs, a former DraftKings board member, took over the position in September after an extensive seven-month search for a replacement. The company’s share price had risen 8% between September 2, when he took over, and Monday’s closing price.
It’s the latest major challenge for the Ladbrokes owner, which paid fines totaling £615m ($764m) in 2023 for historic failings in its Turkey-based business. Entain is also potentially facing a hefty penalty in Australia over potential anti-money laundering failings.
