Entain reports strong Q1 trading, appoints Stella David as permanent boss

(Sharecast News) - Entain has officially appointed interim boss Stella David as its new chief executive, as the sports betting and gaming group reported a strong start to the year with net gaming revenues ahead of expectations. David, Entain's chair who stepped in as acting CEO in February after the departure of Gavin Isaacs, will be made permanent CEO effective immediately, the company announced on Tuesday.

"Stella has played a pivotal role in shaping, implementing and executing the ongoing delivery of Entain's strategy to drive value for our shareholders," said interim chair Pierre Bouchut.

"She is highly regarded by our stakeholders, and her appointment provides consistency and stability as the business pursues its many growth opportunities."

The news came as Entain reported a better-than-expected performance over the three months to 31 March, with net gaming revenue (NGR) up 11% over the year before at constant currency, with strong performances online at Entain's core brands and its 50% share in US business BetMGM.

At BetMGM, NGR surged 34% at constant currencies, driving by the iGaming business, as well a "strengthened sports product and refined player engagement", Entain said.

"Entain reiterates its expectation for Online NGR growth of mid-single-digit percent in 2025 on a constant currency basis and remains comfortable with market expectations for FY2025 EBITDA," the company said. Company-compiled consensus forecasts for 2025 EBITDA currently stand at £1.11bn, up from £1.09bn in 2024.

Entain's share price was up 3.2% at 648.2p in early deals.