Advertiser Disclosure
We want to bring you the best content and the best offers. Just so you know, we may collect compensation from the links on this page and some of our reviewers are compensated for contributing content to this website.
Bingo Sites News

Strong Growth and New Ownership Plan for Entain

The company behind famous iGaming brands like Foxy Bingo and Gala Bingo has just launched a new employee share ownership scheme that will allow its workforce to share in its success.

Entain, which also owns over 2,800 Coral and Ladbrokes betting shops across the UK, is inviting more than 22,000 staff to apply for membership of its ShareSave plan.

The scheme is open to employees who work in the UK and Ireland, as well as international locations such as Australia, Belgium and Malta.

Monthly contributions start at £5 and are capped at £100 and according to the company’s newly appointed Chief Executive Officer will help to build a “strong customer-centric culture where everyone contributes and shares in our continuing success”.

The plan allows employees to make regular contributions for the first three years before being given the chance to purchase shares in the company for 20% less than their market value.

Business seems to be booming for Entain at the moment following its announcement that its first-quarter profits have soared. While its retail shops performed considerably worse than the previous year due to temporary closures caused by lockdowns, Entain’s online bingo and casino brands helped its Net Gaming Revenue (NGR) climb by 33%.

Some of its success is attributed to its collaboration with MGM Resorts, with the Chief Executive saying that BetMGM has enjoyed “impressive market share growth”. Entain has also recently acquired Enlabs and which it hopes will help it expand into newly regulated markets.

Now that the majority of UK betting shops have been allowed to reopen, the company says that it’s looking forward to “more normal trading” and is “confident and excited” about its long-term prospects.

Entain was founded as Gaming VC Holdings in 2004 and became known as GVC Holdings in 2010. Last year, it underwent a rebrand and at the start of 2021, it appointed Jette Nygaard-Anderson as its new CEO.

Reader comments