Entain is on course to leave the FTSE 100 in September, with the Ladbrokes and Coral owner included among the indicative deletions from Britain’s benchmark index following a prolonged decline in its market value.
FTSE Russell’s preliminary September review lists Entain and housebuilder Persimmon for demotion to the FTSE 250. EasyJet and Ithaca Energy are currently positioned to replace them in the FTSE 100. The indicative changes are based on market data from August 21, with the formal review using closing prices from September 1. Final changes are due to be announced after the market closes on September 2.
The potential relegation follows a difficult year for Entain shares. The stock closed at 511p on August 27, down 3.66% during the session, giving the company a market capitalisation of approximately £3.39bn. Its 52-week trading range stands between 500.4p and 915.6p.
Entain has been part of the FTSE 100 since June 2020, when it still operated under the GVC Holdings name. Its expansion into one of the world’s largest listed betting groups was accelerated by GVC’s roughly £4bn acquisition of Ladbrokes Coral in 2018.
Pressure on the company’s valuation has intensified as gambling operators absorb significantly higher taxation in the UK. Remote Gaming Duty increased from 21% to 40% in April 2026, creating an additional earnings burden for operators with substantial British online businesses.
Entain nevertheless delivered revenue growth during the first half of the year. Net gaming revenue from continuing operations reached £2.55bn, rising 7% on a reported basis and 5% at constant currency. Online NGR increased 7% at constant currency, supported by 13% growth in both the UK and Ireland and Australia.
Higher revenue was not enough to prevent earnings from declining. Group underlying EBITDA fell 2% year-on-year to £479.3m, while underlying operating profit decreased 10% to £318.9m. Entain said stronger-than-expected NGR was more than offset by the higher UK online gambling tax burden.
Despite those pressures, management maintained its 2026 outlook. Entain continues to expect online NGR growth of between 5% and 7% at constant currency and group underlying EBITDA of £910m to £960m, excluding BetMGM parent fees.
A move into the FTSE 250 would not change Entain’s underlying operations, but it would mark the end of more than six years in London’s flagship blue-chip index and underline the extent of the valuation pressure facing one of the gambling sector’s largest publicly traded groups.