Ladbrokes Owner Entain Drops Out of the FTSE 100
FTSE Russell has confirmed that Entain, the company behind Ladbrokes and Coral, will be dropped from the FTSE 100 at the close of trading on 18 September 2026 and will join the FTSE 250 three days later. The move ends a six-year run on London’s blue-chip index and comes as the group’s market value has been squeezed by rising UK gambling taxes and the prospect of a new betting levy.
What’s actually changed
FTSE Russell confirmed Entain will drop off the FTSE 100 Index following a stark drop in its market cap, with the Ladbrokes Coral owner’s market cap now the lowest on the index.
Entain, alongside housebuilder Persimmon, will be deleted from the index at the close of play on 18 September and enter the FTSE 250 on 21 September, with the pair replaced by Ithaca Energy and easyJet.
The slide has been building for some time.
Entain joined the FTSE 100 in June 2020, and a year later its stock had more than doubled from around £7.60 to £18 amid a positive outlook for gambling shares.
Since then the picture has reversed sharply: the shares peaked in October 2021 before a sustained decline that has wiped out most of those gains, and the stock has fallen by roughly 30-40% over the past year alone, according to reports covering the reshuffle.
Tax is central to the story.
A new 25% betting levy introduced under the previous Chancellor is due to apply from April 2027, targeting remote and online betting, on top of the remote gaming duty rise to 40% from 21% that took effect from April 2026.
Entain has said these changes could cut its earnings by roughly £100m in 2026 and £150m annually from 2027, even after reducing marketing spend and promotions.
The company has also reported a widening net loss to £681m in the last financial year, alongside continued shop closures.
What it means for you
There is no direct change to your Ladbrokes or Coral account here – this is a stock market reclassification, not a new rule. But it matters to players because it shows how the financial squeeze from higher taxes is playing out at one of the UK’s largest operators.
Entain has already cut marketing spend and promotions to offset the tax hit
, and cost pressure of this kind tends to filter through to fewer or smaller bonus offers, tighter loyalty schemes, and continued high-street shop closures as the group tries to protect margins.
Analyst commentary cited by City reporters puts it plainly:
Entain’s betting business “has battled with high UK gambling taxes, increased competition, and slower than expected growth in the US,” according to AJ Bell’s head of markets.
For players, that combination of tax pressure and competitive strain is worth watching, since it is the same backdrop against which future decisions on promotions, staking limits and product changes are likely to be made.
The bigger picture
Entain’s relegation is being read across the industry as a marker of how the Gambling Act White Paper reforms and tax changes are landing on the UK’s largest listed operators.
Commentators have framed the move as a sign of the times for the UK igaming market, coming amid heightened tax pressures and a tightening regulatory landscape for gambling operators.
Investor sentiment towards Entain reflects wider concerns about UK and European gambling companies as operators contend with higher taxes across core markets, pushing investors to demand tighter cost control and profitability.
The episode sits alongside the rollout of the statutory levy, the deposit limit overhaul due later this month, and ongoing debate about affordability checks – all part of the same reform package that operators say is reshaping their economics. Whether Entain’s stay in the FTSE 250 is brief, as its leadership hopes, or longer-lasting will be one signal of how the sector is absorbing that cost.
Sources
- SBC News – Entain’s FTSE 100 departure confirmed by FTSE Russell
- SBC News – Ladbrokes Coral owner Entain set to drop from FTSE100 index
- iGaming Expert – When will alarm bells ring as Entain faces FTSE 100 exit?
- City AM – Ladbrokes-owner and Aston Martin slated to drop in FTSE reshuffle
- Yorkshire Post – Persimmon and Entain drop out of UK’s top stock index
