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(AsiaGameHub) –   Entain has verified that Ricky Sandler, the founder of Eminence Capital, has stepped down from his role as Non-Executive Director.

This announcement comes after the reported shutdown of the Eminence fund last week, during which Sandler noted that the business had “fallen short of our very high standard and your expectations”.

Eminence was understood to be the third-largest shareholder in Entain, owning roughly 6.5% of the Ladbrokes Coral parent company. Sandler took his seat on the board in early 2024.

Sandler’s history with Entain

During that era, and indeed beforehand, he was highly critical of the company’s $766m (£565m) purchase of Polish operator STS Group, calling the move “perplexing on many levels”.

However, he seems to have built a friendly rapport with Entain Chairman Pierre Bouchut and current CEO Stella David. David was the interim CEO when Sandler joined, taking over after Jette Nygaard-Andersen left.

It should be noted that the STS Group deal was finalized under Nygaard-Andersen’s watch, following her departure amid claims she was losing favour with shareholders.

Addressing Sandler’s exit, Bouchut remarked: “On behalf of the board, I thank Ricky for his support over the past two years.

“Thanks to his contributions the company is in a stronger position and is well equipped to capitalise on the many opportunities in the global sports betting and gaming market.”

Entain was not the only gambling firm in Eminence’s portfolio; they also held stakes in US-listed DraftKings and Flutter Entertainment, though Sandler did not sit on the board of either.

Since joining Entain, Sandler witnessed the company navigate numerous challenges, including tax hikes across Europe—especially in the UK—as well as management changes and store closures.

Nonetheless, in his final statement as an Entain Director, Sandler reiterated his belief in the company.

“It has been a pleasure to have served on the Entain board for the last two years,” he stated.

“During that time, Entain has seen significant operational transformation, and the business is well positioned to deliver continuing strong growth. I have the utmost confidence in Entain’s management and board to deliver enhanced shareholder value.

“Entain shares are held in accounts and funds managed by Eminence Capital, which will be liquidated in an orderly manner, without any pre-determined time constraints, with the intention of maximising value realisation.”

Sandler’s departure arrives shortly after Entain released its Q1 2026 results, which showed resilience despite the tax issues mentioned earlier. The firm posted a 3% rise in group-wide Q1 revenue, with strong showings in the UK, Ireland, and Australia.

The company stays on the FTSE 100—the London Stock Exchange’s leading index—and executives are confident about gaining market share, even though it now sits as the 94th most valuable company on the index with a market cap of about £3.63bn.