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EU iGaming Weekly: Entain Exits FTSE 100, Hungary Reviews Regulator, Lottomatica–CIRSA Merger

By jili tutorial · September 5, 2026

EU iGaming Weekly: Entain Exits FTSE 100, Hungary Reviews Regulator, Lottomatica–CIRSA Merger

This week’s key developments include Entain’s demotion from the FTSE 100, a Hungarian government review that could dissolve the SZTFH, two UK licence suspensions, and Lottomatica’s agreement to absorb CIRSA. Here is a breakdown of the five biggest stories.

Entain Leaves the FTSE 100

FTSE Russell confirmed on 2 September that Entain will be removed from the FTSE 100 and moved to the FTSE 250. The change takes effect at the start of trading on Monday, 21 September, after implementation at the close on Friday, 18 September. Persimmon will also drop down, while easyJet and Ithaca Energy will enter the blue-chip index.

A constituent is removed once its full market capitalisation falls below 110th place. Entain’s market cap was around £3.3 billion in late August, with shares at 517p – down roughly 30% across 2026. The primary cause was a sharp increase in remote gaming duty, which rose from 21% to 40% on 1 April 2026. In November 2025, Entain warned that this hike, combined with a 25% remote betting rate due in April 2027, would add around £200 million annually in costs at its UK and Ireland online business before mitigation.

Its H1 2026 results, published on 13 August, showed net gaming revenue up 5% in constant currency but underlying EBITDA down 2%. Despite this, analysts remain bullish. All seven tracked by MarketBeat rate the stock a buy, with an average 12-month target of 992p. Entain leaves the FTSE 100 six years after joining as GVC Holdings, and it does so as the largest gambling company listed in London.

Hungary Orders Review That Could Close the SZTFH

A government resolution published in the Magyar Közlöny on 31 August instructs Justice Minister Márta Görög to report by 30 September on how the Supervisory Authority for Regulated Activities (SZTFH) could be wound up and its duties reassigned. The resolution does not close the authority; it only commits the government to examining the option. Prime Minister Péter Magyar signed it.

The review follows July’s renewal of the Sopron casino concession for 35 years to 2061, granted to CAI Hungary Kft without a public tender. The SZTFH responded on 1 September that it is an independent body created by parliament under Act XXXII of 2021, accountable only to parliament, and said it would cooperate with the review. Gambling is only part of its remit, which also covers tobacco retail, mining and geology, court bailiffs, insolvency practitioners, cybersecurity certification, and domestic ESG frameworks. If the authority is dissolved, those functions would move to bodies under direct government control.

UK Gambling Commission Suspends BresBet and Bet St George

The Gambling Commission suspended the operating licences of BresBet Ltd and Bet St George Ltd on 28 August after investigations revealed suspected social responsibility and anti-money laundering failures. Both licences are under review under section 116 of the Gambling Act 2005. The suspensions remain in place until the regulator is satisfied the businesses are compliant. Neither operator can take bets, but customers can still access their accounts and withdraw funds.

The two companies are closely linked. Companies House lists both at the same registered office on Hawley Street in Sheffield, with Nicholas James Brereton as an active director of each. BresBet held four remote permissions from 13 February 2025, and Bet St George held the same four from 10 December 2025 – all eight are now marked suspended. No findings have been published because section 118 allows the Commission to suspend a licence while a review is ongoing. This distinguishes this case from two other UK enforcement actions this month (against Holland Park Leisure and QuinnBet), where completed investigations had already closed.

Superbet Keeps Staff in Romanian Localities That Have Banned Gambling

On 31 August, Super, the company behind the Superbet brand, announced it will not close premises or cut jobs in Romanian localities that have banned gambling. Affected agencies will stay open as ‘Home of Superliga’ venues, where people can watch Superliga fixtures together and receive in-person assistance from staff. Superbet is the main partner of the Superliga, Romania’s top football division.

Emergency Ordinance 7/2026, adopted in February, gave local councils the power to prohibit gambling within their own boundaries, and several have already done so. The usual operator response has been to shut sites and lay off staff. Adrian Turiga, retail director for the Superbet brand in Romania, said the company regrets that such decisions fall on its employees and has chosen to retain them. Super did not disclose how many agencies are affected, which localities they are in, or when the conversions will take effect.

Lottomatica Agrees to Absorb CIRSA

Lottomatica and CIRSA signed a binding merger agreement on 2 September. CIRSA will be absorbed in an EU cross-border statutory merger and will cease to exist. Its shareholders will receive 0.668 newly issued Lottomatica shares for each CIRSA share held. Lottomatica shareholders will end up with about 67.5% of the combined company, and CIRSA shareholders with about 32.5%. Blackstone will retain roughly 24% and two seats on a 13-member board instead of exiting.

The combined group would carry around €2 billion of pro forma adjusted EBITDA on a last-twelve-months basis to 30 June 2026, including €101 million of run-rate cost synergies. Total annual synergies are estimated at about €115 million pre-tax by the third full year after completion, at a cost of some €120 million spread over three years. CIRSA will pay a €262 million extraordinary dividend before the merger takes effect, and Lottomatica’s board intends to propose a further €744 million capital return afterwards. On the agreed terms, CIRSA is valued at about six times 2026 EBITDA before synergies.

Completion is expected in Q2 2027, subject to shareholder meetings plus foreign investment, antitrust, foreign subsidies, and gaming clearances. The joint merger plan is due in Q3 2026, and extraordinary general meetings by the end of the year.

What to Watch Next Week

Hungary has already moved beyond the resolution. At the government press conference on 3 September, spokesperson Anita Köböl said the cabinet will put the removal of the SZTFH’s concession-contract powers before parliament. Péter Magyar stated that once the review of the authority’s work is complete, the government will most likely propose closing it and distributing its duties. Justice Minister Márta Görög’s report is still due by 30 September, and the casino and tobacco concessions are under review alongside it.

Entain’s index change is implemented at the close on 18 September, so tracker funds will trade around it in the middle of the month. In Britain, the section 116 reviews will decide whether BresBet or Bet St George keeps a licence – the Commission has published no findings yet. In Romania, Super has not said how many agencies are converting, leaving the scale of the retail change unknown until either the company or the ONJN register fills the gap.