The FTSE Russell has confirmed that Entain will drop off the FTSE 100 Index following a stark drop in its market cap.
City analysts had expected this to happen as the Ladbrokes Coral owner’s £3.31m market cap is now the lowest on the FTSE 100.
Entain, alongside housebuilding company Persimmon, will be deleted from the index at the close of play on 18 September and enter the FTSE 250 – London’s 101st-350th biggest listed firms – on 21 September. The duo will be replaced by oil and gas firm Ithaca Energy and low-cost airline Easyjet.
The firm’s shares have been gradually decreasing for over a year now, with increased taxes in its home market of the UK likely being one of several factors dissuading investors.
