Entain Parts Ways with Ricky Sandler as Eminence Capital Prepares to Shutter

Global gaming and betting giant Entain announced that Ricky Sandler, the founder of Eminence Capital, has exited its board. This move comes due to the termination of the operator’s agreement with the asset management firm.

Sandler Steps Down from the Board

In a regulatory filing, Entain confirmed that Ricky Sandler will step down as a non-executive director, effective from May 5, 2026. The company clarified that this coincides with the termination date of its agreement with Eminence Capital.

For context, Entain entered into an agreement with the asset management firm on January 3, 2024. However, Sandler recently announced his decision to shut down Eminence Capital after almost three decades in business.

In an earlier statement, Sandler confirmed that operating Eminence has become more difficult due to a variety of market shifts and macroeconomic headwinds. He admitted that the past few years have seen his team fall short of the very high standards it had set for itself.

As a result, Eminence will be returning cash to investors. At the same time, Entain shares that are held in accounts and funds managed by Eminence Capital, will be liquidated in an orderly manner. Sandler emphasized that his priority remains to maximize value realization during this process.

For context, as of April 7, 2026, Eminence Capital held 41,425,426 ordinary shares of €0.01 each in the capital of Entain.

Sandler Says It’s Been a Pleasure to Serve Entain

Ricky Sandler commented on his exit from Entain’s board, saying that it has been a pleasure to serve the company.

It has been a pleasure to have served on the Entain board for the last two years. During that time, Entain has seen significant operational transformation, and the business is well-positioned to deliver continuing strong growth.

Ricky Sandler

Sandler praised the company’s progress and said that he is certain it will be able to generate further shareholder value.

Pierre Bouchut, chair of Entain, thanked Sandler for his support and invaluable contributions to the gambling company’s business: “Thanks to his [Sandler’s] contributions the company is in a stronger position and is well equipped to capitalise on the many opportunities in the global sports betting and gaming market.”