Entain CEO Gavin Isaacs is stepping down less than six months after assuming the role just five months ago.
On Tuesday, Entain announced that Isaacs and the company have mutually agreed to part ways, effective immediately. Issacs is leaving Entain with more than 25 years of experience in the gaming industry with previous stops at Aristocrat, Bally Technologies and Scientific Games. He has also held advisory roles at Jackpocket and PureSoftware.
Entain did not disclose an exact reason for Isaacs’ departure from the company.
Isaacs replaced interim CEO Stella David in September 2024 following the resignation of former CEO Jette Nygard-Andersen the year prior. David will once again step in as interim CEO until the company and its board of directors have selected a permanent replacement.
“Entain is making strong progress in delivering our strategic priorities. We would like to thank Gavin for his contribution. The Board is pleased with the Group’s performance in 2024 and trading so far this year. As announced on 13 January 2025, FY2024 Group EBITDA is expected to be at the top of the £1,040m-£1,090m guidance range,” David said in the release.
“The Board and management remain aligned on the Group’s focus on operational excellence and maximising shareholder value. I look forward to leading the business as we continue to accelerate our performance.”
Shares of Entain fell more than 10% after the company announced Isaac’s departure.
Entain’s joint venture with MGM Resorts, BetMGM, reported its 2024 earnings last week. While EBITDA dropped to $244 million in losses in what CEO Adam Greenblatt called a “rebuilding” year, revenues were up 7% YoY while iGaming jumped 13%. Greenblatt said he expects the company to be EBITDA positive in 2025.
