Jette Nygaard-Andersen has been named the new CEO at sport-betting and gaming group Entain, becoming the first female chief executive of a major listed UK gambling firm.
Outgoing CEO Shay Segev will remain available to Nygaard-Andersen until 8 July to facilitate an orderly transition.
Rob Wood, Entain’s chief financial officer, will have the role of deputy CEO added to his current role with immediate effect, and Sandeep Tiku, Entain’s chief operating officer, will be appointed to the board later in the year.
Nygaard-Andersen joined the Entain board as an independent non-executive director in 2019.
She has more than 20 years’ experience in leadership and operational roles in media, entertainment, sport and digital businesses and a track record of working with digital next generation online and mobile entertainment companies offering video gaming, e-Sports, and social media video content.
Barry Gibson, Entain’s chairman, said: “We are extremely fortunate to have such an outstanding candidate and readymade CEO in Jette. She is already deeply immersed in Entain’s strategy, and clearly shares our ambition to be the world-leader in sports betting and gaming entertainment.”
Nygaard-Andersen added: “I am very excited to have the opportunity of continuing the extraordinary momentum that Entain has in its existing markets, as well as helping it enter new regulated markets and reach new audiences.”
Hedged bets well
A trading update this morning revealed the business had seen strong process throughout the year, with ongoing momentum into 2021.
Full year online net gaming revenue was up 27 per cent, and up 41 per cent in Q4 alone.
BetMGM, the firm’s US joint venture with MGM Resorts, is now live in 11 states with a market share of approximately 18 per cent across all live markets.
Richard Hunter, head of markets at interactive investor, said the business had hedged its bets well in the last year, and doing so had “paid off handsomely”.
“Where sporting events were cancelled during the initial pandemic lockdown, some of the slack was taken up by its alternative offerings such as bingo and poker. In addition, where the Ladbrokes and Coral estate was shuttered at the same time, the online offering came into its own,” he continued.
“Nor is the company reliant on any particular geography, and this additional diversification has also played its part, most strikingly in its BetMGM joint venture with MGM Resorts.”