Boss of Coral and Ladbrokes owner Entain has stepped down

The group said Ms Nygaard-Andersen’s decision comes after the gambling giant reached an agreement with HM Revenue & Customs (HMRC) to settle an investigation into the group over activities at a Turkish-facing business that it sold in 2017, but it did not specify a reason for her departure.

Entain chairman Barry Gibson highlighted the resolution of the probe and the agreement, praising Ms Nygaard-Andersen for her “exceptional leadership during what has been a hugely challenging period”.

He said: “It is no exaggeration to say that the HMRC investigation posed a number of threats to our group.”

He added: “Had the matter not been resolved by way of a deferred prosecution agreement, the consequences to the company and all of its stakeholders could have been disproportionate.”

Ms Nygaard-Andersen said: “The past three years have been rewarding and challenging in equal measure.

“The resolution of the HMRC investigation into the legacy business, which was sold by a former management team in 2017, offers a clean inflection point for me and for Entain. The group is now safe, stable and sustainable and I believe that this is the right time to move on to other business and career opportunities.”

Previously a non-executive director at the firm, Ms Nygaard-Andersen was appointed to the top job in January 2021 following the departure of her predecessor, Shay Segev, after just six months in the role.