jili tutorial

Entain to drop into FTSE 250 after FTSE Russell confirms reshuffle

By jili tutorial · September 4, 2026

FTSE Russell Confirms Entain’s Move to FTSE 250

The reshuffle, effective 21 September 2026, removes London’s largest listed gambling company from the blue-chip index just six years after it joined. The UK’s 40% remote gaming duty has weighed on London-listed gambling stocks throughout the year, and the impact has now reached the index tables. FTSE Russell confirmed after the close on 2 September 2026 that Entain plc will leave the FTSE 100 and enter the FTSE 250.

Index Changes Confirmed

The September 2026 quarterly review of the FTSE UK Index Series removes Entain and housebuilder Persimmon from the blue-chip index. They are replaced by easyJet and North Sea oil and gas producer Ithaca Energy. Both relegated companies move into the FTSE 250. The changes take effect at the close of business on Friday, 18 September, and begin from the start of trading on Monday, 21 September.

Why Entain Lost Its Place

Under the FTSE UK Index Series ground rules, a FTSE 100 constituent is removed once its full market capitalisation falls below 110th place. Entain was valued at roughly £3.3 billion in late August, with shares at 517p, and has declined about 30% across 2026.

Tax burden is the main driver. Remote gaming duty increased from 21% to 40% on 1 April 2026. Entain told the market in November 2025 that the hike, combined with a new 25% remote betting rate due in April 2027, would add around £200 million per year in costs at its UK and Ireland online business before mitigation. It estimated the EBITDA impact at approximately £100 million in 2026 (8% of consensus), rising to about £150 million from 2027.

Half-year results showed the strain. Entain’s H1 2026 results, published on 13 August, reported net gaming revenue up 5% in constant currency but underlying EBITDA down 2%. Dan Coatsworth, head of markets at AJ Bell, noted that the operator had faced high UK gambling taxes, tougher competition, and “slower than expected growth in the US”.

Entain leaves the FTSE 100 six years after joining as GVC Holdings. It does so as the largest gambling company listed in London, a position it took when Flutter Entertainment’s London delisting completed on 3 August.

Market Reaction and Analyst Outlook

The confirmation did not trigger a sell-off. Entain traded at around 523p on the morning of 3 September, up about 1% from the previous close of 517.6p.

Analyst targets remain well above current levels. All seven analysts tracked by MarketBeat rate the stock a buy, with no holds or sells. The average 12-month target is 992p, in a range of 750p to 1,145p — roughly 90% above the current price. That average has not changed since late August.