Global sports betting and entertainment group, Entain, which owns the Ladbrokes and Coral chains in the UK, has launched a group-wide employee share ownership plan.
The sharesave plan gives all of its 22,500 employees globally a potential stake, and return on any profits made, in the business.
Under the terms of the plan, staff can put away up to £100 per month towards buying shares in the organisation, and they can start by making contributions at just £5 per month.
After three years, this saved money can be used to purchase shares in the business at a 20% discount compared to their market value at the start of the investment period.
After they have bought their shares, staff have a number of options available to them. They can either sell these shares back at a potential profit; they can retain the stock and become shareholders in the organisation; or they can simply take their initial savings back.
Under the terms of the plan someone putting aside £50 monthly would save £1,800 over the period, compared to £3,600 with the maximum £100 a month contribution.
After applying the 20% discount, this would buy an employee either 142 or 284 Entain shares at current value.
Jette Nygaard-Andersen, Entain's chief executive, said: “Entain has been one of the highest performing [organisations] 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 has risen consistently in the last three years, from 687p in 2019 to 1,557 this week. However, it also fell to a low of 448p at the start of the Covid-19 (Coronavirus) pandemic in March 2021.
