Entain Names Stella David as Permanent CEO
Entain, a parent of BetMGM, named Stella David as its permanent CEO, effective immediately. “The board is delighted to have appointed Stella as CEO,” said interim chairman Pierre Bouchut.
A New Leader Takes the Helm
“She is an accomplished and commercial business leader with a long track record of success across multiple industries.” David, who served as interim CEO twice, after Jette Nygaard-Andersen’s exit in 2023 and Gavin Isaacs’ resignation in February 2025, brings stability to the company.
David, a former chair of Norwegian Cruise Lines and CEO of WM Grant & Sons, joined Entain’s board in 2021 and chaired the group until stepping into the interim CEO role.
“Entain has a clear strategy and we are making great strides in strengthening our operational capabilities,” David said. “I am hugely excited to be leading the business going forward as Entain CEO as we accelerate our journey of improvement.” Her appointment aligns with Entain’s push for shareholder value.
Q1 Financials Show Momentum
Entain’s Q1 2025 results, released alongside David’s appointment, beat expectations with a 9% rise in group net gaming revenue (NGR), or 11% in constant currency.
“We have made a strong start to 2025,” David said. “Our improving operational execution saw us exit 2024 with clear momentum, which has continued in Q1.”
Online NGR (excluding the US) grew 6%, or 10% in constant currency, driven by a 23% online surge in the UK. Retail NGR edged up 1%.
BetMGM, Entain’s 50/50 US joint venture, delivered a standout 34% NGR increase, with iGaming up 27% to $443 million and online sports betting up 68% to $194 million. BetMGM’s $22 million EBITDA marked its first profitable quarter.
Group-wide, Entain’s $4.09 billion handle and 10% UK volume growth fueled results.
Regional Wins and Challenges
In key markets, UK and Ireland NGR rose 10%, with online up 23% due to strong volumes, though retail dipped 1%. Internationally, NGR grew 5%, with Brazil up 31% and Central Eastern Europe up 12%, led by Croatia.
Australia’s NGR fell 8% due to customer-friendly sports results. Entain’s 2024 cost cuts, saving $25 million, and tech upgrades, like single-wallet systems, bolstered Q1.
BetMGM’s $2.4-$2.5 billion 2025 revenue forecast and positive EBITDA outlook signal US growth. Entain expects mid-single-digit online NGR growth and aligns with a $1.11 billion EBITDA consensus.
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