Ladbrokes owner Entain has struggled in recent years with an underperforming stock price, poor acquisition decisions, and a historic bribery case that led to a £585m ($784m) fine. Things seem to finally be turning a corner after the company posted solid results for Q1, with group net gaming revenue jumping 9% year-on-year.
Entain announced on Tuesday that Stella David will become the permanent CEO of the company after serving in an interim role since the departure of Gavin Isaacs in February after only five months as CEO.
company’s share price jumped almost 3% on the back of the news
The company’s share price jumped almost 3% on the back of the news. Ivor Jones, an analyst at Peel Hunt, said that the appointment means that Entain has a “safe pair of hands.”
David is the company’s fourth chief executive in the past five years. New interim chairperson Pierre Bouchut said that her appointment will bring “consistency and stability” to the firm.
Talking to the Financial Times, David remarked that Entain “still have some big rocks to move” and that David is now personally invested in the business.
