Entain risks dropping out of the FTSE 100 following its inclusion among the indicative deletions from the UK’s blue-chip index, according to a list published by FTSE Russell.
FTSE Russell’s indicative changes are based on data as of Friday, August 21. The list places Entain among the FTSE 100 deletions and the FTSE 250 additions, alongside housebuilder Persimmon. easyJet and North Sea oil and gas producer Ithaca Energy appear as the indicative promotions into the FTSE 100.
The changes remain unconfirmed. FTSE Russell will base the actual review on data as of the market close on Tuesday, September 1, and the rebalance will be announced after the market close on Wednesday, September 2.
Under the FTSE UK Index Series ground rules, a FTSE 100 constituent is demoted once its full market capitalization ranking falls below 110th.
UK duty increase pressures share price
Entain shares traded at 517p on the morning of August 27, a decline of 2.3% on the day. The company’s valuation stood at roughly £3.3 billion in late August, below the threshold required for blue-chip status.
The share price decline follows an increase in the UK’s remote gaming duty from 21% to 40%, effective April 1, 2026. Entain’s first-half 2026 results showed net gaming revenue up 5% in constant currency, while underlying EBITDA fell 2%, a result the company attributed primarily to the duty increase.
Morningstar analysts Ollie Smith and Christian Mayes pointed to slower-than-expected growth in the US market as an additional factor, along with the Autumn Budget scheduled for October.
The analysts said: “Entain, which faces high UK gambling taxes and slower-than-expected US growth, faces possible additional pressure at the Autumn Budget in October, where new chancellor John Healey may target gambling companies to shore up the UK government’s finances.”
Sell-side ratings stay bullish despite price slide
Analyst price targets have not moved in line with the share price. All seven analysts tracked by MarketBeat carry a buy rating on Entain, with no hold or sell recommendations among them. The average twelve-month price target stands at 992p, ranging from 750p to 1,145p, a level that implies approximately 92% upside from the current 517p share price.
Even so, targets have trended downward over time. The consensus target was 1,013p a month earlier and 1,170p a year earlier. Two of the most recent target revisions came on August 17: JPMorgan raised its target to 1,050p, while Deutsche Bank lowered its target to 914p.