Entain launches employee share ownership plan

RNS Number : 5635V

Entain PLC

15 April 2021

 

15 April 2021

Entain launches share ownership plan for over 22,500 employees

Entain, the leading global sports betting and gaming entertainment group, has launched a Group-wide employee share ownership plan to give UK and international colleagues the opportunity to share in the success and growth of its global business.

Around 22,500 employees at all levels of the business can now apply to join Entain's ShareSave plan. In the UK, where Entain has 2,885 Ladbrokes and Coral shops spread across the UK and Ireland, almost 14,000 retail colleagues can apply for the plan. By starting monthly contributions at just £5 or more, Entain hopes to put share ownership within reach of everyone, including people across its international operations.

Entain said ShareSave will initially be offered to colleagues working in countries representing around 99% of its workforce, also including the Philippines, India and Bulgaria. The company said it had initially placed a £100 monthly cap on contributions to reflect the truly global nature of its business and currency differences across the workforce, with the aim of maximizing the appeal to all colleagues.

"Entain has been one of the highest performing companies in the FTSE-100 over the past year, which is the result of hard work and efforts from teams across our international business," said Jette Nygaard-Andersen, Chief Executive of Entain. "Building a strong customer-centric culture where everyone contributes and shares in our continuing success is really important, so this plan is designed to be attractive and accessible to all."

The new plan overtakes previous employee share plans introduced in country markets and companies that have, by acquisition, become part of Entain in recent years. The company has said it intends to increase those eligible to join the plan in future years as it continues to grow through acquisition.

Under the terms of the ShareSave plan, colleagues can choose to save a monthly sum from £5 to £100 over three years. At the end of this period, they will have the opportunity to buy shares in Entain for 20% less than their market value at the start of the invitation period, which they can sell for a potential profit. Alternatively, they can retain the stock as shareholders in the company, or simply take their savings back.  

Under the terms of the plan someone putting aside £50 monthly would save £1,800 over the period, compared to £3,600 with the maximum £100 a month. After applying the 20% discount, this would buy 142 or 284 Entain shares.  The new plan is being implemented this year as approved by shareholders at the company's last annual meeting.

Media Enquiries:

Media - Entain plc Tessa Curtis, Head of Media Relations Jay Dossetter, Head of ESG and Press Office	t [e-mail] j [e-mail]
Media - Powerscourt Rob Greening / Elly Williamson	Tel: [phone] [e-mail]

Note to Editors

The Entain Share Save plan extends to its people working in across its global markets. Only those at BetMGM in the U.S., a joint venture with MGM Resorts International, and in countries with fewer than five employees, are ineligible.

In the UK, the government introduced the Savings Related Share Option Scheme in 1980 to encourage employees to buy stakes in the companies for which they work, with HM Revenue & Customs approval.

About Entain plc

Entain plc (LSE: ENT) is a FTSE100 company and is one of the world's largest sports-betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports Brands include bwin, Bet.pt, Coral, Crystalbet, Eurobet, Ladbrokes, Neds and Sportingbet; Gaming Brands include CasinoClub, Foxy Bingo, Gala, Gioco Digitale, Ninja Casino, Optibet, partypoker and PartyCasino. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis. The Group has also entered into a joint-venture with MGM Resorts to capitalise on the sports-betting and gaming opportunity in the US. The Group is tax resident in the UK with licenses in a total of 27 regulated markets.

For more information see the Group's website:   www.entaingroup.com  

 

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