Michael Snape Named Entain CFO as Rob Wood Steps Down After 13 Years
Entain has appointed Michael Snape as its new chief financial officer, taking over in March 2026.
LISTEN TO THIS ARTICLE:FTSE-listed Entain said Snape will formally assume the CFO role on March 6, 2026, after a period as CFO designate beginning in February and will join the company’s board as an executive director. The move comes as long-serving finance chief Rob Wood prepares to leave the operator after 13 years overseeing the group’s financial strategy and major transactions.
Snape arrives with a broad retail and distribution finance background. His previous roles include group CFO at International Distribution Services (IDS), finance leadership at Boots’ No.7 Beauty division, and international CFO responsibilities at supermarket group Tesco. Entain said the appointment is aimed at strengthening its finance leadership ahead of a testing calendar for the UK gambling sector.
The End of an Era at Entain
Rob Wood joined the business – then GVC Holdings – in 2012 as retail CFO and rose to group CFO in 2018 following the company’s roughly £4 billion acquisition of Ladbrokes Coral, a transformational deal that consolidated Entain’s high-street footprint alongside its digital brands such as Ladbrokes, Coral and Bwin. Wood’s remit expanded further in 2021 when he was named deputy CEO, a period that also encompassed strategic moves including the BetMGM joint venture with MGM Resorts and the purchase of SuperSport in Croatia.
Reflecting on his departure, Wood said: “It has been a privilege and a pleasure to be part of Entain’s growth over the last 13 years, and I am proud of the transformation the Group has undergone during that time. With Entain’s and BetMGM’s pathway to long term success well established, now is the right time for me to pass the reins on, and I am confident that the Group has an extremely bright future.”
Board-level succession follows a period of significant strategic expansion for Entain, which has balanced large retail exposure through Ladbrokes Coral with an expanding international digital footprint and interests in the US via BetMGM. The leadership change will be watched closely by investors and analysts as the business navigates a more punitive tax and regulatory environment in the UK.
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Tax Changes and Strategic Response
Snape steps into the role at a pivotal moment. From April 1, 2026, the tax on online casino games in the UK will more than double from 21% to 40%, while General Betting Duty is scheduled to rise from 15% to 25% in March 2027. Entain has publicly estimated an EBITDA headwind of approximately £100 million in 2026 and about £150 million from 2027 as a result of the tax increases, and said it expects to offset roughly a quarter of that impact through cost savings, reduced marketing and lower promotional spend.
CEO Stella David has signalled that higher taxes could alter the competitive landscape, potentially forcing smaller operators from the market and creating opportunities for large, diversified operators with economies of scale. Entain’s significant retail estate could also provide some insulation, as the immediate tax changes focus on online casino revenues.
An independent industry analyst warned that mitigation is unlikely to be straightforward. Alex Scott, senior analyst at H2 Gambling Capital, commented: “Large operators can absorb shocks more easily than smaller rivals, but a shift of this magnitude will compress margins across the industry. Expect a wave of cost restructuring and a sharper focus on cross-selling sports-betting customers to regulated casino products where margins are less exposed.”
Investors and market watchers will now assess how quickly Snape can translate his FMCG and retail finance experience into stabilising Entain’s earnings profile and executing further efficiency programmes. The company’s next set of quarterly results and its 2026 guidance will be the first opportunity to judge the financial impact of the leadership transition against the backdrop of sweeping tax reform.
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