Market's view on Entain
Published on April 2024
- Concerns about the lengthy process to appoint a new CEO, with no specified recruitment agency announced.
- Lack of clarity on the improvements made by the current interim CEO, Ricky.
- Worry over share price decline by 3% without clear explanation.
- Mention of possible vulnerability to a takeover, specifically comparing to recent takeovers in the UK market.
- Discussion on the roles of sustainability and compliance within the company, indicating a lack of alignment and expertise.
- Observations on the company’s cluttered brand portfolio which complicates potential sell-off scenarios.
- A 15% vote against electing a director suggests dissatisfaction with current management.
- Pessimism about share price recovery without a permanent CEO and doubts about producing stellar results before 2025.
- Speculation of a potential buyout offer from MGM based on its recent activities, including stock repurchases and previous bids for Entain.