Entain CEO Shay Segev is leaving his role just as the company has received an acquisition bid by MGM Resorts and set out to transform the igaming industry.
Segev will instead take up a position as a co-CEO at sports streaming platform DAZN.
Segev, who arrived at the helm of Entain during its rebranding from GVC Holdings in November 2020, helped chart the new strategy for the firm, which will look to move away from illegal gambling markets and increase its business footprint significantly.
Focusing on sustainability, Segev has spoken to numerous media outlets in the past six months and said that Entain will move forward to a new form of entertainment product and will think outside of the box with regards the type of products consumers want to see.
In a Q&A with one gambling outlet he said: “We want to think not as a gambling company when creating an esports betting product.”
Entain is not just focused on gambling, as a recent link-up with Verizon media has shown.
In an official statement, Segev confirmed that he is departing and added that he felt confident Entain would be able to achieve the many lofty goals it has set out. He further added that he will continue helping Entain as much as he can.
His departure is not immediate though, and he has a six-month notice period, allowing the board of directors to enact existing protocols and find a new worthy successor for the job.
Chairman Barry Gibson expressed regret that Segev was moving away from the company but assured that Entain is in a strong position to pursue its objectives.
He said that his decision had nothing to do with a recent bid by MGM Resorts to buy out Entain. Entain and MGM Resorts are already working together through Roar Digital and the joint-venture's BetMGM brand.
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