It comes as the company reported a 9% increase in revenue for Q1, driven by better-than-expected online performance in the three-month period ending 31 March.
Interim Entain chair Pierre Bouchut said: “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.”
The appointment follows a rocky period for the Ladbrokes operator, which saw the business lose two CEOs in as many years following stagnation in core markets, regulatory difficulties and a widely criticised M&A strategy.
David added: “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.”
BetMGM JV in good health
BetMGM, Entain’s US t venture with MGM Resorts and sometimes considered the jewel in its crown, yesterday reported a 34% revenue increase and its first ever set of EBITDA positive results.
These ahead-of-expectations results were highlighted as the consequence of its leading iGaming offering, strengthened sports product and refined player engagement.However, the picture was also rosy excluding the US, with an 8% year-on-year revenue rise that saw strong UK&I online volumes and operator-friendly sports results partially offset by softer retail volumes.
Internationally, there was a more mixed story, with a 31% revenue increase in Brazil representing something of a return to form, while customer friendly sports results in Australia led to an 8% fall.
David added: “We have made a strong start to 2025. Our improving operational execution saw us exit 2024 with clear momentum which has continued in Q1. Entain has a clear and compelling strategy with today’s results further evidence of its delivery.
“We are in the early stages of our journey of improvement and are driving ahead at pace. Entain’s portfolio of podium positions in attractive and regulated growth markets underpins the structural growth embedded in our business.”
The new full-time CEO outlined the company was confident its current momentum and underlying growth would enable it with a clear pathway to generating over £0.5bn annual cashflow in the medium term.
Analysts say David safe pair of hands
Reflecting on the results, analysts at Regulus Partners said: “Given that David has been on the board of Entain since 2021 (witnessing the exhumation of many skeletons and exorcising several ghosts), and has been interim CEO twice, the appointment promises some much needed stability after several senior management missteps.
“Operational focus is already paying off, meaning David’s job should principally be to free up the business to deliver improvements without getting in the way, while ensuring that ongoing legacy regulatory problems impact operations and key relationships as little as possible, and possibly offer some much needed industry leadership as other senior executives scour the globe for new opportunities to exploit rather than existing problems to solve.”
