Business

Entain CEO resigns days after Ladbrokes owner rejected MGM approach

Ladbrokes-owner Entain Plc said on Monday its Chief Executive Officer Shay Segev would leave the company, days after the gambling firm rejected an US$11 billion takeover approach from U.S. casino operator MGM Resorts International.

FILE PHOTO: A pedestrian walks past a branch of Ladbrokes in London
FILE PHOTO: A pedestrian walks past a branch of Ladbrokes in London, Britain December 22, 2017. REUTERS/Simon Dawson

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REUTERS: Ladbrokes-owner Entain Plc said on Monday its Chief Executive Officer Shay Segev would leave the company, days after the gambling firm rejected an US$11 billion takeover approach from U.S. casino operator MGM Resorts International.

Segev, who will remain in his current role for six months or until a successor is in place, intends to leave to become co-CEO of DAZN, a privately-owned global sports streaming platform.

(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Rashmi Aich)

Source: Reuters