Entain CEO Shay Segev to Head up Sports Streaming Service
The chief executive of gaming giant, Entain, has announced he will be switching focus to head up a sports streaming service. Shay Segev will be stepping down from his role at Entain and moving to streaming provider DAZN as CEO.
Entain has confirmed that industry heavyweight Jette Nygaard-Andersen has been appointed as the incoming CEO, leading the company forward in their bid for growth and expansion in 2021.
Considerable Progress
Although Shay Segev was only CEO for a short time at Entain, he has overseen considerable progress during that time. Joining Entain in 2016 as Chief Operating Officer, Segev was promoted to CEO in July 2020 after the departure of longstanding chief Kenny Alexander.
During his tenure as CEO, Segev oversaw a complete rebranding for the company, moving from their previous name of GVC Holdings and securing shareholder approval to relaunch with a new mission statement and name.
One of the largest names in the industry, Entain comprises of many successful global brands, PartyCasino being one of the most prominent entities. In previous years, they have achieved rapid growth and steered by Segev had outlined an ambitious menu of activities for 2021. These included committing to community charity initiatives and launching a sustainability charter focusing on safe, responsible gambling led by the use of pioneering technology.
The betting giant hasn’t wasted any time getting his agenda moving, making a bid for Swedish firm Enlabs. The deal hasn’t yet received shareholder approval from Enlabs, but the departure of Segev won’t hold anything up, with Entain announcing that Jette Nygaard-Andersen will step into the role.
Who are DAZN?
Pronounced “Da Zone”, DAZN is an online streaming platform. Shay Segev will be co-CEO, joining forces with acting CEO James Rushton who has been standing in since last year. So who exactly are DAZN and what’s their deal?
DAZN have been described as the “Netflix of sports” offering viewers a live streaming service for global sports. Relative newcomers in the very competitive live streaming market, they’ve made an immediate impact but are yet to become firmly established as one of the top providers in the field.
Despite being the new kids on the block, DAZN has substantial financial clout, being owned by the 4th richest man in the UK, Sir Leonard Blavatnik. Since moving into sports streaming, DAZN started with fighting but has quickly diversified, aiming to pick up the best of elite sports from around the world.
Segev will remain in his role at Entain until July 7 2021, despite the appointment of Nygaard-Andersen. This is to facilitate the smooth transition, and ensure that the gambling powerhouse isn’t adversely affected by the change at the top.
In a separate statement, DAZN said Segev’s expertise in technology and digital transformation made him the right candidate for their position. DAZN believes that Segev’s achievements at Entain since joining in 2016, and his previous career at Playtech provide him with the experience and knowledge to drive DAZN forward.
Strong Replacement
In appointing Jette Nygaard-Andersen, Entain are the second largest gambling firm to have a woman at the helm. Nygaard-Andersen has an impeccable pedigree and has been instrumental within Entain since joining a year ago.
The Danish businesswoman has an illustrious 20-year career spanning many senior roles within sports, media and entertainment. The chairman, Barry Gibson, said the company was “extremely fortunate” to have a “ready-made CEO” in Nygaard-Andersen who will be taking over with immediate effect.
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