LONDON (UK) – Non-executive director and industry veteran Jette Nygaard-Andersen has been named by Ladbrokes owner Entain as its CEO on Thursday. She becomes the first woman to head a gambling firm in the UK.
Outgoing CEO Shay Segev announced that he was stepping down to accept the offer at global sports streaming platform DAZN, days after rejecting an $11 billion takeover approach from MGM Resorts.
Nygaard-Andersen assumes charge of the company at a time when it is evolving into an entertainment firm. She has to bring the company towards regulated markets, expand its presence in the US sports betting market and bolster its online offerings.
“We also think this reflects a desire to maintain continuity around the Board’s recently renewed strategic plan, both in terms of being an internal appointment and Ms Nygaard-Andersen’s background in digital entertainment,” said analysts Morgan Stanley.
She is joining the firm after a long stint at Swedish e-sports and gaming group MTG. Segev will be available until July 8 to ensure a smooth handover.
Chief Financial Officer Rob Wood has to take up the additional charge of deputy CEO and be in charge of all retail operations and deal making activities.
Entain said it predicts its annual US net revenue to be between $175 million and $180 million. It maintained its group core earnings prediction range of 825 million pounds to 845 million pounds.
According to the company, online net gaming revenues spiked 41% for the quarter ended Dec. 31.