Entain has introduced a group-wide employee share ownership scheme, with the aim of allowing UK and foreign employees to “share in the success and growth of its global business.”
According to the firm, the strategy outperforms previous schemes launched in country markets and companies that have joined the group through acquisition in recent years.
Entain’s ShareSave scheme is now open to about 22,500 workers at all levels of the company. Almost 14,000 retail colleagues will apply in the UK, where Entain has 2,885 Ladbrokes and Coral shops scattered across the UK and Ireland.
Entain wants to make equity ownership accessible to everyone by beginning monthly donations at £5 or more. This includes employees across the company’s foreign operations.
According to the company, the initial limit of £100 per month reflects the global nature of its market and currency differences among employees, with the goal of broadening the appeal to all employees.
Attractive and accessible to all
Jette Nygaard-Andersen, chief executive of Entain 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.”
Colleagues may opt to save a monthly amount ranging from £5 to £100 over the course of three years under the ShareSave scheme. They will have the ability to purchase Entain shares for 20 percent less than their market value at the start of the invitation period, which they will then sell for a profit at the end of the period. They may either keep the stock and become shareholders in the business, or simply take their money back.
The new strategy, which was accepted by shareholders at the company’s last annual meeting, is being introduced this year, with the betting and gaming group planning to expand the number of people willing to participate in future years as it continues to grow through acquisitions.