{"id":270,"date":"2024-06-28T03:29:01","date_gmt":"2024-06-28T00:29:01","guid":{"rendered":"https:\/\/miamiclubcasinonodepositbonus.icu\/2024\/06\/28\/entain-reports-substantial-2023-losses\/"},"modified":"2024-06-28T03:29:01","modified_gmt":"2024-06-28T00:29:01","slug":"entain-reports-substantial-2023-losses","status":"publish","type":"post","link":"https:\/\/miamiclubcasinonodepositbonus.icu\/2024\/06\/28\/entain-reports-substantial-2023-losses\/","title":{"rendered":"Entain Reports Substantial 2023 Losses"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/5dUCQYnxcc8\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Enten has given a total of eight hundred forty-six thousand sixty-seven shares to temporary chief executive David and assistant chief executive Wood.<\/p>\n<p>David, who assumed the role of temporary chief executive of Enten in December of last year, taking the place of former chief executive Jet Negaard-Anderson, was granted five hundred twenty-six thousand six hundred twenty-six shares, each valued at \u20ac0.01. These shares were given under the company&#8217;s 2017 Long-Term Incentive Plan (LTIP).<\/p>\n<p>Meanwhile, Wood received three hundred seven thousand two hundred two shares, also valued at \u20ac0.01 each, under the LTIP rules. These awards are predicted to be fully vested on March 11, 2027.<\/p>\n<p>LTIP payments are dependent on continued employment and meeting specific financial objectives, which will be revealed in Enten&#8217;s 2023 Annual Report. The report is scheduled to be published on March 22nd. Shares obtained from LTIP awards will have a two-year holding period.<\/p>\n<p>Enten also awarded Wood twelve thousand two hundred thirty-nine shares, valued at \u20ac0.01 each, as a bonus under its 2023 Annual and Deferred Bonus Plan (ADBP). According to the company&#8217;s compensation policy, fifty percent of executive directors&#8217; annual bonuses are deferred in the form of shares. Wood&#8217;s ADBP shares are expected to be granted on March 11, 2027.<\/p>\n<p>Two thousand twenty-four is a vital year for Enten. <\/p>\n<p>The chaotic year of 2023 set the stage for notable developments at Entain in 2024 as the company endeavors to stabilize its position.<\/p>\n<p>Entain reached a compromise agreement with the UK&#8217;s Her Majesty&#8217;s Revenue and Customs (HMRC) and the Crown Prosecution Service (CPS) concerning Entain&#8217;s past operations in Turkey, leading to a \u00a3585 million (684.4 million euros\/748.2 million dollars) penalty. Entain will also contribute \u00a320 million to charitable causes and \u00a310 million in expenses to the CPS and HMRC.<\/p>\n<p>Just a few days after the settlement announcement, CEO Nygaard-Andersen declared her resignation. Entain is currently seeking a permanent replacement for Nygaard-Andersen.<\/p>\n<p>Nygaard-Andersen&#8217;s departure came amidst mounting pressure on her merger and acquisition strategy. Entain acquired Polish sports betting operator STS Holding in August 2023 and finalized the acquisition of Angstrom Sports in October. While Nygaard-Andersen characterized both deals as profitable, the full potential of these moves was not realized before her departure.<\/p>\n<p>Activist hedge fund Corvex Management, which obtained a 4.4% ownership in Entain in December, described Nygaard-Andersen&#8217;s departure as a &#8220;necessary&#8221; initial step. However, Corvex also advocated for further changes following the group&#8217;s &#8220;unacceptable&#8221; recent performance.<\/p>\n<p>Entain Reports Substantial 2023 Losses<br \/>\nTaking into account the HMRC and CPS settlement, Entain reported a net loss of \u00a3936.5 million for 2023. This occurred despite a 11.1% increase in net gaming revenue (NGR).<\/p>\n<p>NGR for 2023 climbed to \u00a34 billion. <\/p>\n<p>Entain Group experienced a notable 11% surge in revenue during 2023, hitting a remarkable \u00a34.8 billion. However, the company&#8217;s financial gains were overshadowed by a parallel increase in expenditures, ultimately resulting in an overall net deficit for the organization. Despite this setback, Chairman Barry Gibson maintains a positive outlook on Entain&#8217;s long-term trajectory. Gibson attributed 2023 to a period of &#8220;essential yet ultimately beneficial change&#8221; for the company. Entain also encountered additional financial burdens in 2023, encompassing amplified impairment charges, amortization of acquired intangible assets, and restructuring expenses. The cumulative impact of these expenditures led to a net loss for Entain approaching \u00a31 billion.<\/p>\n<p>Sign up for iGaming updates. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Enten has given a total of eight hundred forty-six thousand sixty-seven shares to temporary chief executive David and assistant chief executive Wood. David, who assumed the role of temporary chief executive of Enten in December of last year, taking the place of former chief executive Jet Negaard-Anderson, was granted five hundred twenty-six thousand six hundred [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Enten CEO &amp; Assistant Get Massive Share Grants<\/title>\n<meta name=\"description\" content=\"Enten\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/miamiclubcasinonodepositbonus.icu\/2024\/06\/28\/entain-reports-substantial-2023-losses\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Entain Reports Substantial 2023 Losses\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Enten\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/miamiclubcasinonodepositbonus.icu\/2024\/06\/28\/entain-reports-substantial-2023-losses\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Indulge in a Secure &amp; Thrilling Licensed Online Casino Experience\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-28T00:29:01+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/miamiclubcasinonodepositbonus.icu\/2024\/06\/28\/entain-reports-substantial-2023-losses\/\",\"url\":\"https:\/\/miamiclubcasinonodepositbonus.icu\/2024\/06\/28\/entain-reports-substantial-2023-losses\/\",\"name\":\"Enten CEO & Assistant Get Massive Share Grants\",\"isPartOf\":{\"@id\":\"https:\/\/miamiclubcasinonodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-28T00:29:01+00:00\",\"dateModified\":\"2024-06-28T00:29:01+00:00\",\"author\":{\"@id\":\"https:\/\/miamiclubcasinonodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Enten\",\"breadcrumb\":{\"@id\":\"https:\/\/miamiclubcasinonodepositbonus.icu\/2024\/06\/28\/entain-reports-substantial-2023-losses\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/miamiclubcasinonodepositbonus.icu\/2024\/06\/28\/entain-reports-substantial-2023-losses\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/miamiclubcasinonodepositbonus.icu\/2024\/06\/28\/entain-reports-substantial-2023-losses\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/miamiclubcasinonodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Entain Reports Substantial 2023 Losses\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/miamiclubcasinonodepositbonus.icu\/#website\",\"url\":\"https:\/\/miamiclubcasinonodepositbonus.icu\/\",\"name\":\"Indulge in a Secure &amp; Thrilling Licensed Online Casino Experience\",\"description\":\"Unleash your gambling potential with the help of our comprehensive casino news, detailed game reviews, and expert articles. 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