Entain is set to depart from the FTSE 100 this month, marking the end of its six-year presence on London's leading stock index. This decision follows a notable decline in the company's market capitalization.
FTSE Russell has confirmed that both Entain and housebuilder Persimmon will be removed from the FTSE 100 at the market's close on September 18, transitioning to the FTSE 250 on September 21. They will be replaced by Ithaca Energy, an oil and gas firm, and the budget airline EasyJet.
Entain first joined the FTSE 100 in June 2020, with its share price climbing from approximately £7.60 to £18 within a year, reaching a peak of £21.56 in October 2021. Currently, shares are valued at £5.23, reflecting a staggering decline of over 75% from their highest point.
The company's market capitalization has dropped to £3.31 million ($4.47 million), the lowest figure within the FTSE 100.
In late July, BetMGM, a joint venture between Entain and MGM Resorts International, reported expectations for its full-year net revenue and adjusted EBITDA to fall at the lower end of its guidance, further contributing to the decline in Entain's share price.
Despite this exit from the FTSE 100, Entain reported better-than-expected results for the first half of the year. Net gaming revenue increased by 5% on a constant-currency basis, reaching £2.55 billion, driven by heightened engagement during the early stages of the 2026 World Cup.
Chief Financial Officer Michael Snape noted that the company is capturing market share as mid-tier operators face challenges due to the rise in the UK Remote Gaming Duty from 21% to 40%.