Stella David plans to stabilize Entain after a tumultuous run of CEOs.
David was named permanent CEO in April after holding the position on an interim basis following the resignation of Gavin Isaacs, who served in the role for five months. David also served as interim CEO following the resignation of Jette Nygaard–Anderson in December 2023, who served two years. That resignation came about after shareholder discontent and regulatory pressures.
David, who came to Entain in March 2021 as a non-executive director, is scheduled to be considered for a Nevada gaming license Thursday before the Nevada Gaming Commission. The British sports betting company is in a joint venture with MGM Resorts International for BetMGM.
During the Nevada Gaming Control Board hearing, in which the three members recommended licensing, Chair Mike Dretizer said one of the main aspects of leadership is continuity to ensure consistency and provide a stable environment. He wanted to know why David hadn’t sought to be permanent CEO previously and what had changed.
David, who has extensive experience serving on boards and is currently board chair at Norwegian Cruise Lines, said she had wanted to have a full lifestyle by sitting on multiple boards and had served as a CEO in the past for a beverage manufacturer.
“It wasn’t in my veins then to become a permanent CEO again,” David said. “When I took on the role as interim, it was to bridge a gap. I was learning a lot about an industry that I found fascinating. Even though I wasn’t going to put myself forward to be permanent CEO, events turn out differently in life. Being interim gave me a sense – I value the company and like the team I’m working with. I think there are opportunities for Entain and when I went back to interim CEO in February, it didn’t take me long to decide that stability and continuity are really good for the company.”
David said she’s driven by loyalty and that Entain deserves a leader who knows who they are and what they’re trying to achieve.
“We’re definitely working on succession plans,” David said in response to a question from Dreitzer. “Not just for me, but for other senior roles. I have a bit of a passion that we should promote people across the organization. We’ll be constantly working on how we build that continuity by generating more skillsets in the organization and training and developing people on the job.”
In providing her vision for the company over the next three to five years, David said Entain wants to be a “true global tier-one operator” by being in multiple regions and behaving in the “right way.”
David said Entain wants to improve their talent, technology, and delivery. They want to do everything in a “highly compliant way that respects players and the needs of regulators. We believe we have strong growth ahead of us in multiple geographies, including with our joint venture here in the U.S. We’re proud of the work the BetMGM team does.”
David discussed how sports betting and igaming could continue to expand in the U.S. as more states become regulated for gaming.
“Hopefully, we get into more jurisdictions. We’ll continue to innovate in our sports offerings. We’re number three in the marketplaces (behind FanDuel and DraftKings). There’s a lot of growth there. A lot of players still play on the black market.”
In response to a question, David said Entain doesn’t operate in gray markets, especially after challenges it has faced in the past. That led to restrictions in Nevada licensing.
“We had some challenges a few years ago, and that has been very much addressed,” David said. “We have a prosecuting agreement with the UK, and we do not operate in gray markets. We fully believe in operating in regulated frameworks.”
Dreitzer said Entain is fortunate to have David at the helm and other Board members called her background impressive.
