{"id":302980,"date":"2023-12-13T08:44:16","date_gmt":"2023-12-13T14:44:16","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=302980"},"modified":"2023-12-13T11:08:27","modified_gmt":"2023-12-13T17:08:27","slug":"entain-ceo-jette-nygaard-andersen-resigns-amid-unrest","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/entain-ceo-jette-nygaard-andersen-resigns-amid-unrest\/","title":{"rendered":"Entain CEO Jette Nygaard-Andersen Resigns Amid \u2018Internal Unrest\u2019 Rumors"},"content":{"rendered":"

Jette Nygaard-Andersen, the CEO of Entain (OTC: GMVHF), stepped down Wednesday after almost four years at the helm of the online gambling giant.<\/p>\n

\"Jette
Jette Nygaard-Andersen has resigned from the role she held since January 2021, to be replaced in the short term by interim CEO Stella David, the online gambling giant said Wednesday. (Image: Entain)<\/figcaption><\/figure>\n

The Danish executive\u2019s resignation came amid disgruntled noises<\/a> from activist investors, many of whom are dissatisfied with the company\u2019s recent performance<\/a> and who have questioned a series of misfiring acquisitions and missed opportunities.<\/p>\n

It also comes just weeks after Entain agreed to pay<\/a> a \u00a3585 million (US$729 million) penalty to HMRC, the UK tax authority. That was to settle historic bribery accusations related to the company\u2019s former black-market Turkish operations.<\/p>\n

The past three years have been rewarding and challenging in equal measure,\u201d<\/strong> Nygaard-Andersen said in a statement Wednesday morning. \u201cThe resolution of the HMRC investigation into the legacy business, which was sold by a former management team in 2017, offers a clean inflection point for me and for Entain.<\/strong><\/p><\/blockquote>\n

\u201cThe 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,\u201d she added.<\/p>\n

Share Slump<\/strong><\/h2>\n

Nygaard-Andersen landed the role in January 2021, shortly after Entain rejected a takeover bid by MGM Resorts<\/a> International, with whom it jointly owns BetMGM in the U.S.<\/p>\n

The $8.1 billion MGM proposal valued the company at \u00a313.83 a share. On Wednesday afternoon, it was worth just \u00a38.43, and that\u2019s after climbing 5% on the news of Nygaard-Andersen\u2019s resignation. In October 2021, a takeover bid by DraftKings also fell through.<\/p>\n

\n

In recent weeks, The Financial Times<\/em> has reported \u201cinternal unrest\u201d at Entain over Nygaard-Andersen\u2019s management of the company, which has been one of the poorest recent performers for shareholder returns on the FTSE 100.<\/p>\n<\/div>\n

The company has spent $2 billion on largely regional-market acquisitions<\/a> under her tenure, many of which have performed badly. Meanwhile, its U.S. operations with MGM have failed to loosen DraftKings\u2019 and FanDuel\u2019s stranglehold on the market.<\/p>\n

\u2018Private Jette\u2019<\/strong><\/h2>\n

Corporate costs have almost doubled, and there have been raised eyebrows about Nygaard-Andersen\u2019s penchant for travel by private jet, according to the FT<\/em>. This has led to some Entain staffers nicknaming her \u201cPrivate Jette,\u201d insiders report.<\/p>\n

Entain has asked Stella David, a nonexecutive director, to stand in as CEO on an interim basis until a permanent replacement for Nygaard-Andersen is found.<\/p>\n

Under Jette\u2019s leadership, Entain has executed a fundamental strategic shift towards regulated or regulating markets, overhauled its governance, transformed its operations, and significantly improved its customer offering,\u201d<\/strong> Entain chair Barry Gibson said in a statement.<\/p><\/blockquote>\n

Gibson praised Nygaard-Andersen\u2019s \u201cexceptional leadership\u201d during a \u201chugely challenging period.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Jette Nygaard-Andersen, the CEO of Entain (OTC: GMVHF), stepped down Wednesday after almost four years at the helm of the online gambling giant. The Danish executive\u2019s resignation came amid disgruntled noises from activist investors, many of whom are dissatisfied with the company\u2019s recent performance and who have questioned a series of misfiring acquisitions and missed […]<\/p>\n","protected":false},"author":36,"featured_media":302981,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810,81883,19],"tags":[82759,89129],"acf":[],"yoast_head":"\nEntain CEO Jette Nygaard-Andersen Resigns Amid \u2018Unrest'<\/title>\n<meta name=\"description\" content=\"Entain CEO Jette Nygaard-Andersen resigned on Wednesday amid dissatisfaction with the company\u2019s recent performance.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/entain-ceo-jette-nygaard-andersen-resigns-amid-unrest\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Entain CEO Jette Nygaard-Andersen Resigns Amid \u2018Unrest'\" \/>\n<meta property=\"og:description\" content=\"Entain CEO Jette Nygaard-Andersen resigned on Wednesday amid dissatisfaction with the company\u2019s recent performance.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/entain-ceo-jette-nygaard-andersen-resigns-amid-unrest\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-13T14:44:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-13T17:08:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/12\/Jette2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"562\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/entain-ceo-jette-nygaard-andersen-resigns-amid-unrest\/\",\"url\":\"https:\/\/www.casino.org\/news\/entain-ceo-jette-nygaard-andersen-resigns-amid-unrest\/\",\"name\":\"Entain CEO Jette Nygaard-Andersen Resigns Amid \u2018Unrest'\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/entain-ceo-jette-nygaard-andersen-resigns-amid-unrest\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/entain-ceo-jette-nygaard-andersen-resigns-amid-unrest\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/12\/Jette2.jpg\",\"datePublished\":\"2023-12-13T14:44:16+00:00\",\"dateModified\":\"2023-12-13T17:08:27+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"Entain CEO Jette Nygaard-Andersen resigned on Wednesday amid dissatisfaction with the company\u2019s recent performance.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/entain-ceo-jette-nygaard-andersen-resigns-amid-unrest\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/entain-ceo-jette-nygaard-andersen-resigns-amid-unrest\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/entain-ceo-jette-nygaard-andersen-resigns-amid-unrest\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/12\/Jette2.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/12\/Jette2.jpg\",\"width\":1000,\"height\":562,\"caption\":\"Jette Nygaard-Andersen has resigned from the role she held since January 2021 to be replaced in the short-term by interim CEO Stella David, the online gambling giant said Wednesday. 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