Entain is again looking for new leadership after the company announced CEO Gavin Isaacs is stepping down immediately.
Stella David will once again assume the role of interim CEO, according to Tuesday’s announcement. She served in the role from December 2023 until September 2024 when Isaacs formally took over.
No reason was given for Isaacs’ sudden departure from the joint venture partner of BetMGM. David reiterated from January that the company is performing well so far in 2025.
The market was not happy with Entain losing the gaming industry veteran from the C-suite. Entain’s stock fell 11.1% to 660 pence in London.
BetMGM results positive
The news comes a week after BetMGM announced positive 2024 results. The operator announced net revenue growth of 13% for iGaming and 4% for online sports betting.
BetMGM said its gross revenue market share is stabilized at 14% with a 22% share of online casino and an 8% share of online sports betting. Average monthly actives hit 946,000, up 14% from the prior year.
The company can attribute some of that success to Angstrom, the data analytics company Entain bought in July 2023 to deepen its sports betting offerings.
The first full MLB season with Angstrom saw a 41% jump in same game parlay bets per active user. BetMGM also saw a 2.2 percentage point increase in NFL same game parlay mix.
Entain added Isaacs for stability
David made headlines in March 2024 when she admitted Entain had been too slow to adjust to the US market:
“But being fully transparent, it took us, and that is Entain, some time to realize just how quickly we needed to feed BetMGM with better customer experiences, and better, more focused US-tailored products.”
Isaacs, with a diverse US gaming industry background that included overseeing OpenBet, was expected to help Entain provide BetMGM with a better US product.
