STS CEO to step down after more than a decade with the Polish bookmaker

STS CEO Mateusz Juroszek will step down from his role on 1 January, with current Entain Central and Eastern Europe (CEE) and SuperSport CEO Radim Haluza being drafted in to replace him.

Juroszek will now move across to become the chairman of the operator’s supervisory board, while Haluza will manage the day-to-day operations at Poland’s leading operator.

The rest of the management board and structure at STS will remain unchanged, and Haluza will continue to serve as CEO of SuperSport and Entain CEE.

Juroszek, who was appointed STS CEO in May 2012, said these management changes were being implemented to help reorganise the company following its acquisition by Entain earlier this year.

Juroszek commented: “I will continue to be actively involved in the development of Poland’s largest sports betting company; nothing is going to change in this respect.

“My primary activities at the moment are to focus on strategic goals and oversee their implementation both at STS and Entain CEE. 

“Operational management will instead be the task of Radim. Our priority is to continue to grow in Poland – where the betting market is growing dynamically – and to exploit opportunities for growth across the region with Entain CEE.”

Entain agreed a deal to purchase STS for a total consideration of approximately £750m in June 2023, with final shareholder approval being given in August.  

The transaction saw Entain acquire 100% of STS at a purchase price of PLN24.8 per share, representing a premium of 35% to the six-month volume-weighted average share price. 

As part of the deal, STS became part of Entain CEE, a joint venture between Entain and Czech investment management company EMMA Capital.

Entain CEE was established in November 2022 as Entain and EMMA Capital partnered to acquire Croatia’s leading sports betting operator, SuperSport.

Under the original terms of the deal, Juroszek was due to retain his place as STS CEO while also taking a position on Entain CEE’s board.

Juroszek will retain his position on the JV’s board despite stepping down as STS CEO.

Juroszek and his father, Zbigniew, also used some of the capital raised from the sale to invest in Entain CEE – taking an approximate 10% stake in the JV.

The news of the STS switch comes less than a week after Entain CEO Jette Nygaard-Andersen announced her sudden departure from the business on 13 December.  

The Dane, who has been subject to investor pressure, has been replaced in the interim by non-executive director Stella David, while the company’s stock has risen more than 20% since her exit.

Arnold Ash is EGR’s Executive Recruitment Partner. They support ambitious organisations to identify and attract industry leading executive talent. Find out more here.