Entain CEO and chair snap up shares in statement of confidence
Chair Barry Gibson and CEO Jette Nygaard-Andersen increase shares in firm following 5% pro forma dip in Q3 revenue
Senior Entain executives have increased their shares in the FTSE 100 firm following last week’s Q3 trading update and 2025 strategy update.
Chair Barry Gibson, CEO Jette Nygaard-Andersen and two other non-executive directors increased their shares in the purchase announced today, 8 November.
Gibson acquired 93,664 shares, taking his total shares after dealing to 123,500. In terms of monetary value, Gibson has snapped up almost £870,000 worth of shares, with each being purchased at 928.80p
Nygaard-Andersen has more than doubled her shares in the business from 30,831 to 65,381 at a purchase price of 927.31p, totalling more than £320,000.
Elsewhere, senior non-independent director Stella David acquired nearly £900,000 worth of stock after purchasing 95,025 shares at a price of 945p.
Non-executive director Rahul Welde, who previously did not own any shares in Entain, bought 21,644 shares at 924p per share.
Finally, Gibson’s wife, Brenda Gibson, bought 15,532 shares, taking her total to 57,434.
Entain directors, and their “closely associated persons”, now hold 665,682 shares, equivalent to 0.104% of the company’s issued share capital.
The share snap up comes after Entain announced a 5% pro forma year-on-year decrease in group net gaming revenue, excluding US operations for Q3 2023.
The operator originally announced in a trading update at the end of September that it expected “slower than anticipated” Q3 revenue.
The purchase of shares by the Entain execs comes shortly after US mutual fund Dodge & Cox doubled its shareholding in the operator from 5.01% to 10.33%.
Dodge & Cox now holds 66,001,318 voting rights and is the second-largest investor in the FTSE 100 firm behind The Capital Group Companies, which hold 14.81%.