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Global sports betting and gaming group Entain plc, formerly known as GVC Holdings PLC, announced that Entain's chief executive, Shay Segev, had notified him of his intention to leave the company to become co-CEO of DAZN, a privately owned global sports streaming platform.

Shay will have a notice period of six months, during which he will retain his current role, or until there is a successor. The Board, which has regularly considered succession issues, is well in the process of finding his successor.

Entain Chairman Barry Gibson said: "We regret Shay's decision to leave us but we recognize that we cannot keep up with the rewards he promised.

"Entain has a wealth of talent across our leadership team and our business has never been stronger. The company achieved double-digit online growth during the 20th quarter and significantly improved our future outlook with the new strategy we launched in November. We have built a truly global business that is entirely based on our own technology and delivers best-in-class entertainment services in more than 20 nationally licensed countries.

“I can confirm that this changes nothing with respect to the Board’s view of the recent proposal from MGM Resorts International to acquire Entain. The Board remains unanimous in our view that the proposal significantly undervalues the Company and its prospects.”

Shay Segev, CEO of Entain, said: “I will be sad to leave the Company after five years but I have been offered a role which offers me a very different type of opportunity. Entain is in great shape after the successful launch of our new strategy. I also want to emphasise that the recent interest from MGM Resorts has had absolutely no bearing on my decision, and I fully support the Board’s decision to reject their proposal. Entain has a great team of leaders and an exciting future ahead through its growth and sustainability strategy, and I will do all I can to continue to support the Company.”