![]() Last month, Entain said it had reached an agreement with HM Revenue and Customs under which the gambling group pays £585m in the form of a financial penalty and a “disgorgement of profits”. The 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.” “The 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. “The past three years have been rewarding and challenging in equal measure,” Nygaard-Andersen said. The stock was at £8.43 on Wednesday afternoon after climbing by nearly 5% after news of the chief executive’s departure reached the markets. The US suitor’s failed bid for Entain was worth £13.83 a share, well in excess of the value today. MGM, which is based in Las Vegas, has since said it has “moved on” and has launched its own UK betting venture, BetMGM. Nygaard-Andersen took over in January 2021, weeks after Entain had rejected an £8.1bn takeover offer from MGM, its US joint-venture partner. She had faced criticism from activist investors over the lacklustre performance of the company’s share price, which has fallen by more than a third during her three-year tenure.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |