Entain launches share ownership plan for employees with stock price at highest ever

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Entain launches share ownership plan for employees with stock price at highest ever

Operator Entain has launched a share ownership plan for over 22,500 employees.

The group-wide plan will allow employees in the UK and abroad to profit from the growth of Entain’s global business.

Around 22,500 workers at all levels of the business can now apply to join Entain’s ShareSave plan; Entain hopes the plan will be obtainable for everyone, including those involved in its international operations.

In the UK, Entain has 2,885 Ladbrokes and Coral shops, which means almost 14,000 retail workers in the UK can apply for the plan.

Entain says its ShareSave plan will initially be offered to colleagues working in countries that represent 99% of its workforce, such as the Philippines, India and Bulgaria.

Monthly contributions will start at just £5 ($6.89) or more and Entain has capped the total to £100 to reflect its global business and the currency differences across the workforce.

Employees can choose to save a monthly sum of £5 to £100 over the course of three years. At the end of this time, each employee will be allowed to buy shares in Entain for 20% less than their market value.

The new plan is set to overtake previous share plans introduced in markets and by companies that have become a part of Entain through acquisitions.

Entani CEO Jette Nygaard-Andersen said: “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.

“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.”

Entain’s share price is this morning up slightly to £16.34, although it is up considerably over a seven-day period, having sat at £15.66 last week.

The current price price is the highest the operator has ever seen, and means former CEO Kenny Alexander’s ambitious target of hitting £20 within three years (in an exclusive Gambling Insider interview two and a half years ago) could still come off.