Zona de Azar Isle of Man – Entain Appoints Ex-Wynn Resorts President to Board as NED

Isle of Man.- March 13, 2024 www.zonadeazar.com Entain has hired Ronald J. Kramer as an independent non-executive director with immediate effect.

Kramer is currently the chairman and CEO of NYSE-listed Griffon Corporation, an investment management and holding company headquartered in New York.
He has enjoyed a 40-year career in corporate finance, real estate and gambling, including as president and director of Wynn Resorts between 2002 and 2008.

He currently serves on the board of Douglas Elliman Inc, a leading residential brokerage company, but has not held directorships with any other PLCs over the last five years.

Kramer received a Bachelor of Science from Wharton School of the University of Pennsylvania in 1980 and an MBA from New York University in 1981.

Entain chairman Barry Gibson said: “I am delighted to announce the appointment of Ron to the board. He is a high calibre individual with deep knowledge and expertise of the US gaming industry.

“I am confident that his appointment will add significant value to the board and complement our existing board dynamics, as we continue to deliver our strategy of growth and focus on shareholder value,” he added.
Entain is in a state of flux following the departure of former CEO Jette Nygaard-Andersen, who oversaw a major downturn in both operational and share price performance.

The operator is currently being led by interim CEO Stella David, who faced Entain investors and analysts for the first time during last week’s full-year results call.

Entain is also in the process of establishing a capital allocation committee after being heavily criticised for its approach to corporate financing and M&A in recent years.

Eminence Capital’s Ricky Sandler – who previously expressed dismay in the company’s capital allocation strategy as an activist investor – was also appointed to the board as a non-executive director in January 2024. He later secured a seat on the newly established capital allocation committee.

Sandler will now sit alongside his American compatriot Kramer on the board, with Entain engaged in US sports betting joint venture BetMGM alongside MGM Resorts.

Entain Plc (ENT.L) is trading at GBp762.40 (3.76%)

Edited by @pererarte   www.zonadeazar.com