Entain Appears on FTSE 100 Deletion List After UK Remote Gaming Duty Doubles to 40%
TL;DR — FTSE Russell placed Entain among the indicative FTSE 100 deletions and the FTSE 250 additions based on data as of Friday, August 21. The changes remain unconfirmed and will use data as of Tuesday, September 1 with announcement after the market close on Wednesday, September 2. All seven analysts carry a buy rating with 992p average target implying approximately 92% upside from 517p.
SCCG Take — The duty increase has compressed EBITDA and pushed Entain near the 110th ranking threshold for index demotion. Operators and investors must track the September 2 rebalance outcome and any further measures in the October Autumn Budget.
FTSE Russell has placed Entain on its indicative list for deletion from the FTSE 100, with a corresponding move to the FTSE 250. The list draws on data as of August 21. Confirmation will use the market close on September 1, with the rebalance announced after the close on September 2.
Under the index ground rules, a constituent is demoted once its full market capitalization ranking falls below 110th.
Tax Increase Drives Share Price and EBITDA Pressure
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%. The company attributed the EBITDA decline 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.”
Analyst Price Targets Hold Despite Downward Trend
All seven analysts tracked by MarketBeat carry a buy rating on Entain, with no hold or sell recommendations. The average twelve-month price target stands at 992p, ranging from 750p to 1,145p. That level implies approximately 92% upside from the current 517p share price.
Targets have trended downward over time. The consensus target was 1,013p a month earlier and 1,170p a year earlier. On August 17, JPMorgan raised its target to 1,050p, while Deutsche Bank lowered its target to 914p.
As first reported by Yogonet International, the indicative changes and analyst positions reflect the direct valuation impact of the April tax adjustment.
Reporting: Yogonet International
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
A 40% remote gaming duty is pushing Entain toward index demotion; October's Autumn Budget could pile on more pain.
We track regulatory and capital market crosscurrents across every jurisdiction we operate in. When a tax shock flips a major operator's economics and threatens its index status, that signals broader sector risk—and forces every UK-exposed operator to model worst-case fiscal scenarios before the October Budget.
- UK remote gaming duty doubled to 40% April 2026; Entain EBITDA fell 2% despite 5% revenue growth
- Shares at 517p, market cap ~£3.3bn—below FTSE 100 threshold; indicative demotion list published August 21
- All seven analysts rate buy, 992p average target (92% upside), but consensus has fallen from 1,170p a year ago
SCCG angle: SCCG works with operators navigating hostile tax environments in 30+ markets. We connect clients to tax advisors, government-affairs specialists, and capital-markets counsel who have guided peers through similar duty shocks—so you can model downside, stress-test your structure, and position ahead of the October Budget instead of reacting after.
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