News: ALL UPDATE 2-Entain names former Scientific Games chief Gavin Isaacs as CEO

(Adds details on new CEO in paragraphs 2 and 3, appointment context in paragraph 4, details on earnings in paragraph 7)

July 22 (Reuters) - Global sports betting and gaming group Entain ENT.L said on Monday Gavin Isaacs, former chief of U.S.-based lottery games and betting firm Scientific Games Corp, has been appointed as its new CEO, effective Sept. 2.

Entain said Isaacs has over 25 years of experience across the global sports betting, gaming and lottery industries, and has handled roles with companies including DraftKings Inc DKNG.O , SB Tech, Bally Technologies Inc and Aristocrat Technologies.

Issacs was a former board member at sports betting firm DraftKings, which in 2021 walked away from its $22 billion buyout bid for Entain to focus on its core U.S. market.

In the midst of a challenging past year marked by penalty settlements for alleged bribery in its former Turkish operations and the sudden departure of Nygaard-Andersen, the company has now proceeded with a new appointment.

The company announced in April that its Chair Barry Gibson could potentially leave before September, ending his over four-year tenure, if a CEO was appointed sooner, leaving interim CEO Stella David to succeed.

Entain's former CEO Jette Nygaard-Andersen resigned in December 2023, following reports that certain shareholders were unhappy with her leadership.

In April, the group reported a smaller-than-expected fall in online gaming revenue for the first quarter, as an increase in active customers helped it offset stiff competition and regulatory pressures in its main markets.

Gambling firms, which gained from a rise in online betting during the pandemic, are dealing with stiffer regulations and a cost-of-living crisis.