Entain in Talks to Appoint Jette Nygaard-Andersen as New Chief Executive
Gambling group Entain (LON: ENT), previously known as GVC Holdings, is reported to be advancing in its pursuit of a new chief executive. Recent reports suggest that Jette Nygaard-Andersen is being lined up to take over this role.
Jette Nygaard-Andersen is a Danish non-executive director at Entain. If she is confirmed in this role, then she will be the first female chief executive of the group, or of any major British gambling company that is listed on the stock exchange. Denise Coates runs Bet365, but it is a privately owned company.
She would be taking over from Shay Segev, who took over last summer but resigned from the position in an unexpected move in the last few days, to take over at the sports streaming firm DAZN. Some sources at the company state that Nygaard-Andersen could be named in the role this week, although it is thought that talks are still ongoing.
Nygaard-Andersen has worked in executive positions at the Modern Times Group for the last 15 years, with roles at AP Moeller-Maersk before that. It is expected that she will take over the role permanently, rather than as a temporary measure.
What Else Is Happening at Entain?
These moves come as the company tries to fend off an £8bn takeover approach. This offer has come from MGM Resorts (NYSE: MGM), with the American casino chain valuing Entain at 1383p for each share.
The initial takeover approach was rejected, with chairman Barry Gibson saying that it undervalued their firm significantly. It should be remembered that Entain operates big-name brands such as Coral, Ladbrokes, Eurobet, and bwin. Foxy Bingo and PartyPoker are also in their portfolio of gaming sites.
An impressive period of transformation in the last year has seen their share value rise by more than 50%. They currently sit at over 1400p, meaning a total market value of £8.14bn.
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