“We are sorry that Shay has decided to leave us but recognise that we cannot match the rewards that he has been promised,” commented Barry Gibson, chairman of Entain.
The company’s board, having considered succession issues on a regular basis, has a process well under way to find his successor.
“Entain has a wealth of talent across its leadership team and the business has never been stronger. The company has delivered 20 quarters of double-digit online growth and our future prospects have been substantially enhanced by our new strategy, which we set out in November. We have built a truly global business which is entirely based on our own technology and offers our best-in-class entertainment services in more than 20 nationally-licensed countries,” said firm’s CEO Barry Gibson.
“I can confirm that this changes nothing with respect to the board’s view of the recent proposal from MGM Resorts International to acquire Entain. The board remains unanimous in our view that the proposal significantly undervalues the company and its prospects,” Gibson added.
Shay Segev, CEO of Entain, commented: “I will be sad to leave the company after five years but I have been offered a role which offers me a very different type of opportunity. Entain is in great shape after the successful launch of our new strategy.”
"I also want to emphasise that the recent interest from MGM Resorts has had absolutely no bearing on my decision and I fully support the board's decision to reject their proposal. Entain has a great team of leaders and an exciting future ahead through its growth and sustainability strategy and I will do all I can to continue to support the company,” Segev concluded.
Segev will now join Dazn, the sports streaming business originally part of Perform Group that was spun off as a separate entity in September 2018, serving as co-CEO. “This role allows me to combine my passion for sport and transformative technology to disrupt and improve the consumer experience,” commented Segev.
“This is an important moment for Dazn Group as we deepen our leadership team and ready the organisation for its next phase of growth. In Shay, we’re adding depth and fresh expertise to the team,” said Dazn executive chairman John Skipper.
“He is recognised as one of the leading figures in online gaming and brings vast technology and operations experience to the role as well as an impressive track record in digital transformation,” Skipper added.
Source: GMB / iGB
