Entain CEO Resigns Amid Investor Dissatisfaction, £585M HMRC Penalty

Share on Facebook Share on Twitter

Entain’s CEO, Jette Nygaard-Andersen, Steps Down

Entain’s CEO, Jette Nygaard-Andersen, has announced her resignation. This move comes after nearly four years at the helm of the online gambling giant. Nygaard-Andersen took up the position in January 2021 and will be temporarily replaced by interim CEO Stella David.

Dissatisfaction Among Investors

The resignation of the Danish executive comes amidst unrest among activist investors. Many are dissatisfied with the company’s recent performance and have questioned a series of failed acquisitions and missed opportunities.

Entain Pays Penalty to HMRC

Just a few weeks ago, Entain agreed to pay a penalty of £585 million ($729 million) to HMRC, the British tax authority, to settle historical bribery allegations related to the company’s former black market operations in Turkey.

alert-circle
You can also find us on Telegram: Click here to follow our Telegram channel.

Entain’s Share Price Declines

Nygaard-Andersen took on the role shortly after Entain had rejected a takeover bid from MGM Resorts International, with which it jointly owns BetMGM in the USA. MGM’s proposal valued the company at £13.83 per share, or $8.1 billion. However, by Wednesday afternoon the value had dropped to just £8.43, even after a 5% increase following the announcement of Nygaard-Andersen’s resignation.

Internal Unrest at Entain

In recent weeks, the Financial Times has reported on “internal unrest” at Entain. This particularly concerns Nygaard-Andersen’s management, which is among the poorest recent performers for shareholder returns in the FTSE 100. The company has spent $2 billion on mainly regional market acquisitions under her leadership, many of which have performed poorly.

Stella David Steps In as Interim CEO

Entain has asked Stella David, a non-executive director, to step in as interim CEO until a permanent replacement for Nygaard-Andersen is found. Despite the challenges, Entain’s Chairman, Barry Gibson, praised Nygaard-Andersen’s “extraordinary leadership” during an “extremely challenging period”.

Sources: Financial Times, HMRC, MGM Resorts, BetMGM

Share on Facebook Share on Twitter

The 3 best cryptocasinos

Up to 1 BTC + 100 Free Spins
First Deposit Bonus
9.9
/ 10
Very good
Play now

T&Cs Apply, 18+

Bets.io review
Cryptocurrencies (12)
  • Bitcoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • usd-coin-logo
Bets.io review

Bonus information

Bonus code: BETSFTD
Wagering requirements: 40x the bonus amount
40x the winnings from free spins
Minimum deposit: 20 USDT or equivalent
Bonus validity: 14 days
  • Maximum bet per round while wagering: 2 USDT – 0.000066 BTC , 0.01 BCH, 0.0011 ETH, 0.02 LTC, 40 DOGE, 2.8 XRP, 25 TRX, 6.6 ADA, 0.008 BNB, 2 BUSD, 2 DAI, 2 EUR – 2 USD.
  • Bonus must be used within 30 days of registration.
Why we like this casino

Bets.io is an impressive crypto casino that boasts a variety of games and renowned software providers. The website is easy to use and offers a wide selection of games, which makes the gaming experience particularly enjoyable. Furthermore, the customer service is available 24/7. They are highly competent, ensuring a reliable and trustworthy service.

Last update by Isabella Brown (iGaming expert for > 10 years) on 19. February 2024
Curaçao
Licence
100% up to 1 BTC
Welcome Bonus
9.9
/ 10
Very good
Play now

T&Cs Apply, 18+

Metaspins review
Cryptocurrencies (9)
  • Bitcoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • usd-coin-logo
Metaspins review

Bonus information

Wagering requirements: 25x deposit & bonus
Minimum deposit: 0,1 mBTC
Bonus validity period: 7 days
  • Bonus & deposit must be wagered 25x
  • Max amounts: 1 BTC/10 ETH/10,000 USDT/10,000 USDC/100 BCH/200,000 TRX/35,000 ADA/150 LTC/125,000 DOGE
  • 7 days to wager
  • Minimum deposit: 0.1 mBTC
  • Slots 100%, game shows 50%, other 0%
Why we like this casino

Metaspins is still a very young crypto casino, but it can already convince with a very modern website, a good selection of games and, above all, an excellent bonus.

Isabella Brown
Last update: 19. February 2024
100% up to 1 BTC + 100 Free Spins
Welcome bonus
9.9
/ 10
Very good
Play now

T&Cs Apply, 18+

Empire.io review
Cryptocurrencies (9)
  • Bitcoin Logo
  • Ethereum Logo
  • Litecoin Casino
Empire.io review

Bonus information

Bonus Code KC100
Wagering requirements Bonus must be wagered 40x
Winnings from free spins must be wagered 40x
Minimum deposit 30 USDT or equivalent
Maximum bet €5 per round
Bonus currency Only with BTC and USDT deposit
  • The free spins are given on Sweet Bonanza.
  • VERY IMPORTANT: The bonus is only available when depositing with these methods: BTC & USDT.
  • To take advantage of the offer, change your wallet to mBTC (μBTC) or USDT and activate the bonus by clicking on “Redeem Bonus” and entering the bonus code.
  • Only the first deposit counts for the bonus.
Why we like this casino

We absolutely recommend Empire.io since it has one of the best crypto teams we know behind it. On top of that, it offers an extensive selection of slots and live games. The bonus is also exceptional with good conditions.

Last update by Isabella Brown (Nerd of Numbers) on 23. February 2024
Curaçao
Licence

Latest News

Isabella Brown

Created by

Online Gambling, Greece and my dog Gringo are my three favorite things in my life. Before working for Kryptocasinos.com I was leading the content team of an iGaming Online magazine where I was focused on researching casinos, their licenses and the connection between the members of the industry.
Reviewed by
Nerd of Numbers

Last update: 19. February 2024

🍪
We use cookies. By using this site, you accept them.