Entain, the FTSE 100 gambling group, has been rejected by former bookies Coral and Sky Bet executives in its search for a new chief executive. According to sources, Entain, the owner of Ladbrokes, approached candidates such as Andy Hornby, current CEO of Wagamama’s parent company, and Richard Flint, who holds multiple roles, for the position. Industry sources also revealed that Dan Taylor, chief executive of Flutter Entertainment’s international operations, was among the potential candidates.
In response to these reports, Entain declined to comment on Friday. Last month, the company announced that its chairman, Barry Gibson, would retire later this year and be replaced by interim chair Stella David. This decision came after the ousting of Jette Nygaard-Andersen, the former chief executive, late last year.
The news of Entain’s approaches to Mr Hornby, a former chief executive of HBOS and Boots The Chemist, and Mr Flint, who ran Sky Bet for several years, comes as no surprise as investors have been demanding a leader with extensive experience in the gambling sector. Mr Flint confirmed in an interview with Sky News’ business presenter Ian King that he was not interested in the Entain position, despite stepping down as a non-executive director of Flutter.
While the company faces mounting pressure from activist investors due to its poor performance, Entain has also hired bankers to sell PartyPoker and other non-core operations. In addition to Ladbrokes, Entain also owns Coral and has a stake in BetMGM, a major player in the US betting market.
Entain has faced numerous regulatory issues in recent years, leading to criticism of its governance and business practices. This has also resulted in a significant decrease in the company’s share price, which has nearly halved in the last 12 months. As of Friday afternoon, shares in Entain were trading at around 797.4p, giving the company a market capitalisation of £5bn.
Mr Hornby could not be reached for comment on the matter.
