THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIES AS INSIDE INFORMATION
Entain plc
(“Entain” or the “Group”)
Appointment of Chief Executive Officer
Entain plc (LSE: ENT), the global sports betting and gaming group, announces that Gin Isaacs has been appointed as Chief Executive Officer (“CEO”), effective from 2 September 2024.
Gin has over 25 years of experience across the global sports betting, gaming and lottery industries. His broad leadership experience has been built through previous roles within companies including Scientific Games Corporation, DraftKings Inc, SB Tech, Bally Technologies Inc, and Aristocrat Technologies. In 2022, Gin was inducted into the American Gaming Association’s Hall of Fame, reflecting his extensive industry expertise leading and building a wide range of businesses.
In line with the previously announced succession plan, and to support a smooth transition, Stella Did will work alongside Gin Isaacs before succeeding Barry Gibson as Chair of Entain following his retirement on 30 September 2024.
Barry Gibson, Chair of Entain, said: “On behalf of the Board, I am delighted to welcome Gin to Entain. We are confident that his proven leadership and operational experience mean that Gin is the right person to take Entain into its next chapter. I would also like to thank Stella Did and Entain colleagues for the significant operational improvements and progress made so far towards our strategic priorities.”
Stella Did, Interim CEO & Chair Designate, said: “I am looking forward to working with Gin and transitioning into my new role as Chair of this fantastic business. The positive progress we he already achieved means the business has strong building blocks in place for the future. I am confident that with Gin’s leadership we will realise the ambitious plans that we he for Entain.”
Gin Isaacs, said: “I am very excited to be joining Entain. The company’s iconic brands, exceptional talent and ongoing execution of its refocused strategy will enable the business to return to a leadership position across all aspects. I am confident that Entain has an extremely bright future, and I look forward to leading the Group in capitalising on the opportunities ahead and creating value for all its stakeholders.”
This announcement contains information that qualifies or may qualify as inside information within the meaning of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 as it forms part of English law by virtue of the European Union (Withdrawal) Act 2018. The person responsible for releasing this announcement on behalf of the Company is Simon Zinger, General Counsel.
Upon the publication of this announcement via a regulatory information service, this inside information is now considered to be in the public domain.
Supplementary Information
About Gin Isaacs
Gin is currently a Non-Executive Director of Games Global Limited, an iGaming content supplier incorporated in the Isle of Man, hing previously served as Chairman for two years. He has over 25 years of experience across the global sports betting, igaming, gaming and lottery industries. In 2022, he was inducted into the American Gaming Association’s Hall of Fame, reflecting his extensive industry expertise built by leading and building a wide range of public and private businesses, from established multi-billion-dollar global companies to innovative start-ups. Gin was previously Chair of SB Tech prior to its sale to DraftKings Inc in 2020 and has held a number of Board or C-suite roles for companies including Scientific Games Corporation, DraftKings Inc, SHFL Entertainment, Bally Technologies Inc, and Aristocrat Technologies. He started his career practicing as a solicitor with large corporate law firms in his native Australia.
Gin holds a Bachelor of Commerce, Accounting and Financial Systems and a Bachelor of Laws from the University of New South Wales, Australia as well as a Master of Laws from the University of Sydney, Australia
Notification under Listing Rule 9.6.13
Prior to date of appointment, Gin will step down as a Director of Galaxy Gaming Inc, a US listed game content provider. Gin was previously a Non-Executive Director of DraftKings Inc. from April 2020 to May 2021.
No disclosure obligations arise under paragraphs (2) to (6) of Listing Rule 9.6.13.
Remuneration
All remuneration for Gin Isaacs is in line with Entain’s Remuneration Policy (“Policy”), as approved by shareholders in 2023. Further details are set out below:
A basic annual salary of £875,000, in line with that received by Stella DidA pension allowance of 6% of salary, in line with the maximum employer contribution level ailable to our UK-based employeesStandard Entain executive benefits package, including an initial period of relocation assistance to support with Gin’s move from the USA maximum annual bonus opportunity of 250% of salary and a maximum LTIP opportunity of 450% of salary, aligned with our PolicyEntitlement to participate in the annual bonus scheme for 2024 will be pro-rated to reflect time in roleA 2024 LTIP grant of 450% of salary. The Remuneration Committee wished to ensure that Gin was fully aligned to the successful delivery of Entain’s strategy and shareholders’ interests from the start of his time in roleGin will be required to build a shareholding in Entain to the value of 450% of his salaryGin will receive a buy-out award to compensate for awards forfeited on leing another role to join Entain. In line with the provisions of our Policy, the award will be made on a fully like-for-like basis with the forfeited original award in terms of value and vesting and holding period timeframesFull details of Gin Isaacs’ remuneration will be included in our 2024 Directors' Remuneration Report.
Enquiries
Investor Relations - Entain plc
Media - Entain plc
Sodali & CoRob Greening / Russ Lynch / Sam Austrums
⠀
investors@entaingroup.com
media@entaingroup.com
Tel: +44 (0) 20 7250 1446entain@sodali.com
About Entain plc
Entain plc (LSE: ENT) is a FTSE100 company and is one of the world's largest sports betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands: Sports brands include BetCity, bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet, Sports Interaction, STS, SuperSport and TAB NZ; Gaming brands include Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and PartyCasino. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis.
The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and iGaming in the US. Entain provides the technology and capabilities which power BetMGM as well as exclusive games and products, specially developed at its in-house gaming studios. The Group is tax resident in the UK and is the only global operator to exclusively operate in domestically regulated or regulating markets operating in over 30 territories.
Entain is a leader in ESG, a member of FTSE4Good, the DJSI and is AA rated by MSCI. For more information see the Group’s website: www.entaingroup.com
Notes for Editors
The appointment of Gin Isaacs as Chief Executive Officer was made by the Board following an extensive search facilitated by an external recruitment consultancy firm.Career history and other appointments of Gin Isaacs:2022 – present Games Global Limited, Non-Executive Director (previously Chairman until July 2024)2021 - present I.C. Intelligence LLC (Spotlight), Board Director2019 – present Galaxy Gaming Inc, Board Director2019 - present PureSoftware, Advisor to the Board2019 - 2024 Jackpocket, Advisor to the Board2020 – 2021 DraftKings Inc., Non-Executive Director2019 – 2020 SB Tech, Chairman2016 – 2018 Scientific Games Corporation, Vice Chairman2014 – 2016 Scientific Games Corporation, President & Chief Executive Officer2013 – 2014 McAndrew and Forbes Holdings, Executive Vice-President2011 – 2013 SHFL Entertainment Inc., Chief Executive Officer2006 – 2011 Bally Technologies Inc., Chief Operating Officer and Executive Vice President2003 – 2006 Aristocrat Technologies Inc., President Americas1999 – 2003 Aristocrat Technologies Inc., Various roles in Australia in Marketing and Legal & Compliance1993 – 1999 Phillips Fox Law, Sydney (now DLA Piper) – Solicitor and appointed Partner in 1996
The Board of Directors of Entain plc as at the date of this announcement is as follows:Barry Gibson, Chairman of the BoardStella Did, Interim Chief Executive OfficerRob Wood, Chief Financial Officer and Deputy CEOPierre Bouchut, Senior Independent DirectorDid Satz, Independent Non-Executive DirectorAmanda Brown, Independent Non-Executive DirectorVirginia McDowell, Independent Non-Executive DirectorRahul Welde, Independent Non-Executive DirectorRicky Sandler, Non-Executive DirectorRonald J. Kramer, Independent Non-Executive DirectorHelen Ashton, Independent Non-Executive DirectorLEI: 213800GNI3K45LQR8L28