Former Rank chief Birch in talks to run Ladbrokes-owner Entain

Henry Birch, the previous boss of Rank Group, is among the many candidates vying to run Entain, the FTSE-100 proprietor of Ladbrokes.

Sky News has learnt that Mr Birch is considered one of a small variety of candidates being thought of by Entain to change Jette Nygaard-Andersen as its everlasting chief government.

The recruitment course of comes at a difficult time for Entain, which has been beset by boardroom upheaval and regulatory difficulties in numerous worldwide markets.

Its inventory has halved within the final yr, leaving it with a market capitalisation of just below £5bn.

This weekend, sources near the corporate confirmed that Mr Birch was a severe contender for the put up, though they mentioned others had been additionally in rivalry.

An appointment may nonetheless be weeks or perhaps a small variety of months away, they added.

Mr Birch stepped down as chief government of Very Group, the web retailer owned by the Barclay household, in 2022.

He is an skilled playing trade government, having spent 4 years as chief government of William Hill Online previous to becoming a member of the London-listed multichannel gaming operator Rank Group.

He has additionally held roles at Leisure & Gaming plc and BettingCorp.

Under Mr Birch, Very Group broke the £2bn annual gross sales mark for the primary time.

Investors in Entain have been urgent its board to recruit a brand new chief government with substantial playing expertise because it grapples with a plunging share value and quite a few regulatory and strategic challenges.

Last week, Sky News revealed that former bosses of bookies Coral and Skybet had rejected overtures to develop into its new boss.

Industry sources mentioned that Dan Taylor, chief government of Flutter Entertainment’s worldwide operations, had additionally been approached, though it was unclear whether or not he was .

Entain has been underneath siege from activist traders for months.

In January, it introduced that Ricky Sandler, who runs Entain shareholder Eminence Capital, would be a part of its board as a non-executive director.

Last month, it mentioned that Barry Gibson, its chairman, would retire later this yr and get replaced by interim chair, and former performing CEO, Stella David.

Entain has employed bankers to promote PartyPoker and different non-core operations, which the Financial Times reported may embody Netherlands-based BetCity, which Entain purchased for £398mn final yr.

As effectively as Ladbrokes, Entain owns Coral and a stake in BetMGM, a significant US betting participant.

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MGM Resorts, the US on line casino operator behind the Bellagio in Las Vegas, tried to purchase Entain in 2021 however was rebuffed at a a lot larger valuation than the UK firm’s shares commerce at now.

MGM has since dominated out an extra bid, though analysts count on it to return at some stage.

The firm has confronted a deluge of regulatory issues, triggering sharp criticism of its governance and enterprise practices.

Last December, it was ordered to pay £615m for failing to forestall bribery at its former Turkish subsidiary underneath a deferred prosecution settlement.

Shares in Entain closed at 778.8p on Friday, giving the corporate a market capitalisation of £4.98bn.

Entain declined to remark, whereas Mr Birch couldn’t be reached for remark.