Entain CEO Shay Segev Hands in Notice

Entain is now on the lookout for a new Chief Executive as its current CEO, Shay Segev, hands in his notice. 

According to sources, Segev has taken a co-CEO position at sports streaming platform, Dazn.

Segev has been the brand’s chief operating officer since July of last year, taking over from Kenny Alexander. Segev has a notice period of six months and will remain in his role at Entain until his successor is recruited.

“We are sorry that Shay has decided to leave us but recognise that we cannot match the rewards that he has been promised,” Entain chair Barry Gibson said.

“Entain has a wealth of talent across its leadership team and the business has never been stronger,’ Gibson continued. 

“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.”

He also commented that Seveg’s department would not mean a change in view of the recent merger proposal from MGM Resorts, who recently offered 0.6 MGM Resorts shares for every one in Entain; a deal that is regarded by most are hugely undervalued. 

Segev commented that he was sad to leave Entain after five years in the business, but said the co-CEO role with Dazn offered him “a very different type of opportunity”. 

“Entain is in great shape after the successful launch of our new strategy,” he said. “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 will be joining Dazn at a very exciting chapter for the business.

“This is an important moment for Dazn Group as we deepen our leadership team and ready the organisation for its next phase of growth,” said Dazn executive chairman John Skipper. 

“James has displayed tremendous leadership, navigating incredible challenges and achieving terrific results which have made us a stronger and more focused company.

“In Shay, we’re adding depth and fresh expertise to the team,” Skipper continued. “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.”