Entain has confirmed that Rob Wood, its long-standing group Chief Financial Officer (CFO), will step down from his role next year in March. He will be succeeded by Michael Snape, a seasoned finance professional with a robust career across several retail giants.
Rob Wood, who has been a pivotal figure at Entain since January 2012, will officially vacate his CFO position and his role as an executive director of the board on 6 March 2026. However, he will remain with the company until June 2026 to ensure a smooth transition of responsibilities. Wood originally joined Entain as the UK retail CFO, spending nearly seven years in that role before taking on the group CFO position in October 2018. By January 2021, he had also assumed the role of deputy CEO, further cementing his influence within the company.
During his tenure as group CFO, Wood was integral to several major developments at Entain, including the company’s rebranding in late 2020. This period also saw a significant turnover in leadership, with notable appointments such as Jette Nygaard-Andersen and Stella David as CEO. Reflecting on his years with Entain, Wood remarked that it had been a privilege and a pleasure to be part of the company’s growth over the last 13 years. He expressed his pride in the transformation Entain had undergone during his time, noting that the group’s strategic path for long-term success was well established, making it an opportune moment to pass the reins.
CEO Stella David praised Wood’s contributions, saying that on behalf of the board and everyone at Entain, they were immensely grateful for his tremendous impact on the group. His expertise and dedication were instrumental in the company’s transformation into the global enterprise it is today. They wished him all the best in his future endeavors.
Stepping into the role, Michael Snape is set to join Entain in February 2026 as group CFO designate. Snape will bring over two decades of experience in senior finance and leadership roles with him. Currently, he is the group CFO at International Distribution Services (IDS), where he recently led the company through a de-listing and sale process. His previous roles include CFO positions at Boots, No7 Beauty & International within the Walgreens Boots Alliance, and international CFO of Tesco. He has also held roles at Waitrose, part of the John Lewis Partnership, and J Sainsburys.
Snape expressed excitement about joining Entain during such a pivotal moment in its growth and transformation journey. He looked forward to collaborating with Stella, the Board, and the leadership team to drive value for all of Entain’s stakeholders. Stella David echoed this sentiment, stating she was delighted to welcome Michael to Entain, highlighting his seasoned leadership, financial and operational expertise, and international experience as invaluable assets for executing strategic priorities.
In parallel with these leadership changes, Entain reported that it remains on track to meet its full-year targets for fiscal year 2025, with its full-year results set to be released on 5 March 2026. As of 10 December, Entain’s earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at £1.14 billion ($1.52 billion). In its third-quarter trading update, the company projected its annual EBITDA to be between £1.10 billion and £1.15 billion. Other highlights from the third-quarter report included a 6% year-on-year increase in total group net gaming revenue, or 7% on a constant currency basis. Excluding the US market, net gaming revenue rose by 4%, or 5% on a constant currency basis.
Looking ahead, Entain, along with other operators, faces upcoming challenges in the form of increased gambling taxes in the UK. Starting in April 2027, the remote gaming duty will increase from 21% to 40%, and a new general betting duty for remote betting will be introduced at 25%, up from 15%. CEO Stella David expressed deep disappointment with the tax changes, noting the potential risks they pose to the industry. She warned that disproportionately increasing gambling taxes could harm the industry and increase risks for customers. As seen in other countries, punitive tax increases often result in lower overall tax revenues, while driving players towards illegal, unregulated operators that offer no player protections.
While Entain remains confident in its strategic path and recent performance, the impending tax hikes present a significant hurdle. As the company braces for these changes, some industry analysts suggest that firms like Entain might need to recalibrate their business models to absorb the financial impact. However, others argue that Entain’s strong market position and diversified portfolio could provide a buffer against the volatility introduced by such regulatory challenges. The leadership transition, coupled with the company’s robust financial performance, indeed sets the stage for an intriguing period as Entain navigates the evolving landscape of the igaming industry.
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