Entain has undertaken a significant shareholder shift as leadership and board members instilled confidence in the operator group’s performance with major share purchases.
Notifying stakeholders of share transactions on November 8, Entain revealed that Chairman Barry Gibson had increased his personal shareholding from 29,500 to 123,500 shares after purchasing 93,600 shares for £870,000.
Group CEO Jette Nygaard-Andersen also showed a sign of confidence in the group after doubling her shareholding to 65,400, purchasing 35,000 shares for £324,000.
Moreover, Senior Independent Director Stella David secured the biggest individual transaction, spending £900,000 on 95,000 shares. This increases her personal shareholding to 112,000 shares.
Additional shareholder activity saw Non-Executive Director Rahul Welde gain 21,000 shares at a price of 924p each, while Barry Gibson’s wife acquired 15,000 shares, priced at 937p.
Following these developments, Corporate Directors, along with their closely associated persons, hold an aggregate of 665,682 shares, representing 0.104 per cent of all issued share capital.
Entertain’s recent Q3 results saw the firm reveal pro-forma GGR declines in both its online and retail sectors, putting the damage down to ‘aggravating factors’ in Europe, notably in the UK and Germany.
However, the operator group has maintained its amended full-year EBITDA guidance of £1bn-£1.05bn, remaining confident in its BetMGM North American growth prospects.
In response to the lacklustre Q3 performance, Entain laid out plans to streamline its business initiatives to focus its portfolio on “organic growth”, aiming to “deliver enhanced returns for all our stakeholders.”
