Building a formidable team – Entain’s appointment of Ronald J Kramer

Lea Hogg March 14, 2024

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Building a formidable team – Entain’s appointment of Ronald J Kramer

Leading global sports betting and gaming group Entain plc has announced a strategic enhancement to its Board with the appointment of Ronald J. Kramer as an Independent Non-Executive Director. This move is set to fortify the company’s governance and strategic direction, particularly in the lucrative US gaming market.

Proven track record in gaming and finance

Ronald J. Kramer’s appointment comes at a pivotal moment for Entain. With over four decades of experience in corporate finance, real estate, and the gaming industry, Kramer’s expertise is a valuable asset. Currently, he holds the position of Chairman and CEO of Griffon Corporation and serves on the Board of Douglas Elliman Inc. His previous tenure as President and Director of Wynn Resorts Limited adds to his deep understanding of the gaming sector.

Kramer’s educational background, with a Bachelor of Science from the Wharton School and an MBA from New York University, reaffirms his business acumen. His independent status was confirmed by Entain’s Board, ensuring that his judgment remains unbiased and focused on shareholder value.

Entain’s renewed focus on shareholder value

Entain’s Chairman, Barry Gibson, expressed confidence in Kramer’s ability to contribute significantly to the Board’s dynamics. It is anticipated that Kramer will enhance the current Board’s effectiveness to restore market confidence and support Entain’s growth strategy, particularly in the wake of a challenging year and the aftermath of a leadership approach that was misaligned with the company’s fundamental principals.

Entain’s portfolio boasts a range of established sports and gaming brands, including BetCity, bwin, Coral, and Ladbrokes, among others. The company’s proprietary technology powers both its B2C operations and third-party B2B services. A notable joint venture is BetMGM, a leader in sports betting and iGaming in the US, which benefits from Entain’s technology and exclusive games. This week Entain retained the services of Oakvale Capital to manage the sale of PartyPoker, a once-major online poker brand. The sale is part of a strategic move to streamline operations and add shareholder value.

The company’s commitment to operating exclusively in regulated markets underscores its leadership in ESG initiatives. Entain is a member of FTSE4Good and the DJSI and holds an AA rating from MSCI. With a science-based target to become carbon net zero by 2035, the Entain Foundation supports safer gambling, grassroots sport, diversity in technology, and community projects.

Ronald J. Kramer’s extensive experience and independent perspective are expected to drive the company towards sustained growth and enhanced shareholder value. As Entain continues to innovate and lead in the sports betting and gaming industry, Kramer’s role will be instrumental in shaping and repositioning its future success.