UK-listed gambling operator Entain plc is losing its CEO after less than six months amidst a takeover attempt by its US joint venture partner. 

On Monday, Entain (until recently known as GVC Holdings) announced that Shay Segev had submitted notice of his intention to step down from his role as company CEO to take a co-CEO position with sports streaming platform DAZN. Segev has committed to staying on as Entain CEO for the six months required under his contract’s notice period or until his successor can be selected, the process of which is said to be “well under way.” 

Entain chair Barry Gibson expressed disappointment at Segev’s decision to exit, while noting that Entain recognized that it “cannot match the rewards that he has been promised.” DAZN began life as a subsidiary of sports media firm Perform Group and has since gone on to launch streaming services in numerous markets, including the US. 

Segev only took over as Entain CEO following last July’s abrupt departure of Kenny Alexander, who’d led the company for 13 years. Alexander’s departure came less than a week before the UK taxman announced it was widening its probe into GVC’s former Turkey-facing online gambling operations for still unexplained reasons.