Ladbrokes and Coral owner Entain PLC (LSE:ENT) has made Stella David its permanent CEO and reported a stronger start to 2025 than expected.
Total net gaming revenue, including the 50% share of US joint venture BetMGM, was up 9%, or 11% at constant currency rates, with strong online performances reported on both sides of the Atlantic.
Excluding the US, digital NGR climbed 10% on a constant currency basis, driven by favourable sports results and 23% growth for the UK, which is up from an underlying run rate of 9% in the second half of last year.
David, a former Bacardi and Clarks boss who was in the chairman's role but spent nine months as interim CEO in 2024 and stepped back into the role in February, said: "Having taken the time to reflect, I am hugely excited to be leading the business going forward as Entain's CEO as we accelerate our journey of improvement.
"Entain is a great business with significant potential and I am confident in its ability to deliver further success in the future."
On recent trading, she said "improving operational execution saw us exit 2024 with clear momentum which has continued in Q1".
She expressed confidence that current momentum and underlying growth will "deliver quality and sustainable earnings with a clear pathway to generating over £0.5 billion of annual cashflow in the medium term".
Interim chair Pierre Bouchut said David is "an accomplished and commercial business leader with a long track record of success across multiple industries".
He added the new boss had played a "pivotal role in shaping, implementing and executing the ongoing delivery of Entain's strategy to drive value for our shareholders".