Entain’s CEO Jette Nygaard-Andersen Departs with Immediate Effect

Jette Nygaard-Andersen, the chief executive officer of the global gambling giant Entain, has announced her departure from the group. Nygaard-Andersen believes that the recent resolution of the HMRC investigation is a clean inflection point and will therefore leave with immediate effect.

Jette Nygaard-Andersen commented on her departure from the team, describing the past three years as equally rewarding and challenging. Now that the HMRC matter is settled, Nygaard-Andersen believes that the company is stable enough, allowing her to explore other opportunities.

The Group is now safe, stable and sustainable and I believe that this is the right time to move on to other business and career opportunities.

Jette Nygaard-Andersen, outgoing CEO, Entain

For reference, Entain reached an agreement with the CPS in November, agreeing to pay £585 million to settle a regulatory matter relating to the company’s past business activities in Turkey. The agreement also forces Entain to exit unregulated markets it is currently operating in.

In the meantime, Entain has selected Stella David, a non-executive director, to become its interim CEO until a permanent successor has been found.

Gibson Regrets to See Nygaard-Andersen Going

Barry Gibson, Entain’s chairman, thanked Nygaard-Andersen for her exceptional leadership, which enabled the company to execute its shift toward regulated and regulating markets, overhaul its governance, transform its operations and improve its products.

Gibson also praised Nygaard-Andersen for guiding the company through the HMRC investigation, which presented a number of threats to the group.

The overhaul of the business model, strategy and culture of the Group in recent years was vital to securing the successful conclusion of a DPA process.

Barry Gibson, chair, Entain

Gibson noted that the team is indebted to Nygaard-Andersen for her dedication during this difficult time. He added that he regrets to see her leave the company. Gibson concluded that the Entain team is optimistic about David’s temporary leadership, considering her impressive track record as commercial leader.

David commented on the matter herself, noting that she has served as a NED for almost three years. She also acknowledged Nygaard-Andersen’s contributions and said that she is looking forward to building on the strong foundations the outgoing CEO leaves behind her.

As for what’s next for Entain, Nygaard-Andersen previously suggested that the current tie-up with MGM Resorts may not last forever. This prompted theories that MGM Resorts might consider a takeover attempt.