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Entain Plc has announced that Stella David has accepted the role of CEO of the FTSE gambling group on a permanent basis.
The appointment headlined Entain’s Q1 trading update, which revealed better-than-expected financial results across its online and retail units.
David, who had been serving as CEO on in interim capacity, following the shock departure of Gavin Issacs in February takes on the role permanently with immediate effect.
Pierre Bouchut, Interim Chairman, stated: “The Board is delighted to have appointed Stella as CEO. She is an accomplished and commercial business leader with a long track record of success across multiple industries.
Stella has played a pivotal role in shaping, implementing and executing the ongoing delivery of Entain’s strategy to drive value for our shareholders. She is highly regarded by our stakeholders, and her appointment provides consistency and stability as the business pursues its many growth opportunities.”
David takes the reins as Entain is at the centre of upcoming regulatory settlements in the UK and Australia, and as the FTSE firm continues the strategic reorganisation of its brands and technologies to return to corporate profits and value for shareholders.
As CEO, David signalled her optimism for the group’s trajectory, saying: “Entain has a clear strategy and we are making great strides in strengthening our operational capabilities.
Having taken the time to reflect, I am hugely excited to be leading the business going forward as Entain’s CEO as we accelerate our journey of improvement. Entain is a great business with significant potential and I am confident in its ability to deliver further success in the future.”
Q1 beats expectations
A snapshot of Q1 trading saw Entain report a 9% increase in total group Net Gaming Revenue (NGR) for Q1 2025, or 11% on a constant currency basis, driven by robust online demand and favourable sports results.
Online NGR (excluding the US) increased by 6%, or 10% at constant currency, thanks to “strong volumes in the UK and Brazil”. UK & Ireland online revenue surged 23% with home market results deemed “well above expectations”.
Further highlights saw Brazil up 31% in NGR, in line with forecasts for the newly regulated market. Retail revenue across the group was up a modest 2%.
David noted the momentum: “We have made a strong start to 2025. Our improving operational execution saw us exit 2024 with clear momentum which has continued in Q1.
Entain has a clear and compelling strategy with today’s results further evidence of its delivery. We are in the early stages of our journey of improvement and are driving ahead at pace.”
“Entain’s portfolio of podium positions in attractive and regulated growth markets underpins the structural growth embedded in our business. We are confident that our current momentum and underlying growth will deliver quality and sustainable earnings with a clear pathway to generating over £0.5 billion of annual cashflow in the medium term.”
BetMGM positive swings
Entain’s 50:50 joint venture with MGM Resorts, BetMGM, delivered standout Q1 results, with NGR up 34% year-on-year on a constant currency basis.
The US-facing operator posted record iGaming revenues (up 27%) and record online sports betting revenue (up 68%), with an EBITDA of $22m in the quarter. Entain reiterated that BetMGM is on track to be EBITDA positive for the full year, with revenue guidance unchanged at $2.4-to-$2.5 billion.
The strong BetMGM performance underscores Entain’s international ambitions as it continues to invest in growth markets, regulatory compliance, and product innovation.
Cautious outlook for 2025
Moving ahead, Entain reaffirms its guidance for mid-single-digit growth in Online NGR for 2025. The company said it remains confident in hitting EBITDA targets and building on its Q1 performance.
