Entain has confirmed the departure of Eminence Capital Founder Ricky Sandler as a Non-Executive Director of the company.
The inevitable news follows the announced closure of the Eminence fund last week, with Sandler stating that the business has “fallen short of our very high standard and your expectations”.
Eminence was reported to be Entain’s third-largest shareholder, holding a stake of around 6.5% in the Ladbrokes Coral owner, and Sandler joined the board in early 2024.
Sandler’s Entain career
At the time, and in all fairness prior to it, he was extremely vocal about the firm’s decision to acquire Polish operator STS Group for $766m (£565m), labelling the decision as “perplexing on many levels”.
However, it looks like he developed at least an amicable relationship with Entain Chairman Pierre Bouchut and current Chief Executive Officer Stella David, who was serving in the role in an interim capacity back when Sandler joined the board, following the exit of Jette Nygaard-Andersen.
It is worth noting that the STS Group acquisition went through under the leadership of Nygaard-Andersen, who left amid reports that she was becoming increasingly unpopular with shareholders.
On Sandler’s departure, Bouchut said: “On behalf of the board, I thank Ricky for his support over the past two years.
“Thanks to his contributions the company is in a stronger position and is well equipped to capitalise on the many opportunities in the global sports betting and gaming market.”
Entain is not the only gambling PLC in which Eminence held shares, also having positions in US-listed businesses DraftKings and Flutter Entertainment, though Sandler did not have a place on either of the firms’ respective boards.
Since Sandler joined Entain, the company has had to navigate a plethora of headwinds, including tax increases across Europe – notably in its home of the UK – as well as leadership shakeups and shop closures.
However, in his final statement as a Director at Entain, Sandler reinstated his confidence in the business.
“It has been a pleasure to have served on the Entain board for the last two years,” he said.
“During that time, Entain has seen significant operational transformation, and the business is well positioned to deliver continuing strong growth. I have the utmost confidence in Entain’s management and board to deliver enhanced shareholder value.
“Entain shares are held in accounts and funds managed by Eminence Capital, which will be liquidated in an orderly manner, without any pre-determined time constraints, with the intention of maximising value realisation.”
Sandler’s departure also comes closely after Entain revealed its Q1 2026 results, which showed some resilience despite the aforementioned tax rises. It reported group-wide Q1 revenue growth of 3%, with notably strong performances in the UK, Ireland and Australia.
The firm remains on the FTSE 100 – the London Stock Exchange’s most prestigious index – and leadership is confident of capitalising on market share, though it is now the 94th highest-valued group on the index with a market cap of around £3.63bn.
