Entain has named interim CEO Stella David to the role on a permanent basis to replace Gavin Isaacs, who stepped down in February.
David was in her second spell as interim chief executive, having previously served in the role temporarily when Jette Nygaard-Andersen left in late 2023. Effective immediately, she is now the full-time CEO.
David was also chairman of the group from April 2024 until February 2025.
“Entain has a clear strategy and we are making great strides in strengthening our operational capabilities,” David said. “Having taken the time to reflect, I am hugely excited to be leading the business going forward as Entain CEO as we accelerate our journey of improvement.”
On a Q1 earnings call on Tuesday, David added that, “it is a huge honor to lead this incredible business at such an important and exciting time on our journey.”
Interim Chair Pierre Bouchut said David is, “an accomplished and commercial business leader with a long track record of success across multiple industries” and noted she has played “a pivotal role in shaping, implementing and executing the ongoing delivery of Entain’s strategy to drive value for our shareholders.”
BetMGM delivers big revenue growth in US
That news came on Tuesday, when the BetMGM co-owner announced its Q1 earnings results, including net gaming revenue (NGR) returns that were better than expected.
Total NGR at Entain, including its 50% share of BetMGM, was up 11% year-on-year in Q1.
BetMGM, a joint venture between Entain and MGM Resorts International, delivered NGR that was up 34% year-over-year on a constant currency basis. The U.S.-facing operator posted record revenues in both iGaming (up 27%) and online sports betting (up 68%). EBITDA was $22 million for the quarter, and Entain reiterated that BetMGM is on track to be EBITDA-positive for the full year.
Entain said that the strong BetMGM performance underscores the parent company’s international ambitions.
Under David’s full-time leadership, continuing to build on BetMGM’s gains in U.S. sports betting will be a key focus.
Angstrom tech key for BetMGM Sportsbook
In February, BetMGM CEO Adam Greenblatt told investors and analysts that 2024, “was perhaps the year that we made most strategic progress in online sports.”
This week, BetMGM posted year-over-year net revenue growth from $489 million to $657 million. Online sports betting climbed from $116 million to $194 million.
Greenblatt added on Monday on Monday in BetMGM’s own earnings call that the brand’s work on capturing, retaining and catering to “high-value players” was a key factor in the growth. Online sports betting handle was up 29% last quarter, handle per active bettor rose 27% and parlay wagering was up nearly 5%.
As has been the case on other BetMGM-related earnings calls in recent months, Entain execs hailed the impact and benefits it has seen from the work of its betting technology provider Angstrom. Thanks to that collaboration, BetMGM’s sports betting isoffering added greater parlay and player prop options and enhanced live betting and bet slip improvements in time for the last NFL season.
On Monday, Entain CFO and Deputy CEO Rob Wood said that more improvements will be coming down the pipe, with a particular focus on improving BetMGM app and site speed and establishing more competitive pricing in the U.S.
“Delivering Angstromized in-play propositions for the major U.S. sports is a big deliverable for 2025, and secondly, the Angstrom team are working closely with our training team to improve our pricing,” Wood told investors and analysts. “The focus right now is U.S. sports, but you can see that evolving to other sports over time as well.”
