London, February 16, 2026, 11:20 GMT — Regular session
- Entain (ENT.L) slipped 0.32% in mid-morning action, moving against a stronger FTSE 100
- After a choppy ride through February, all eyes shift to full-year results coming up March 5.
- BetMGM’s cash returns are still front and center, with the upcoming UK tax changes also hanging over the outlook.
Entain PLC (ENT.L), owner of Ladbrokes, edged down 0.32% to 565.2 pence as of 11:04 GMT on Monday, with volume around 370,000 shares. The stock has swung between 452.5p and 1,031.5p during the last 52 weeks.
The drop was slight. Still, the bigger story isn’t going away. This month, Entain’s been jumping around as traders debate if BetMGM’s better margins will actually show up as more stable cash flow for the parent.
A tougher test isn’t far off. Entain has its 2025 full-year results due March 5—a release that could shake up expectations again after the stock’s jagged swings in early February.
The FTSE 100 added 0.41% as of 09:25 GMT, banks bouncing back to drive gains. Investors kept one eye on a busy UK economic calendar this week, sizing up fresh data for clues on potential rate cuts.
Entain closed out Friday at 567p, losing 4.74% for the day. Shares have been unsettled since. Back on Feb. 4, the stock surged 10.47%, only to tumble in the days that came after.
Monday morning brought scant new updates from companies. Entain’s regulatory feed listed its latest activity as major-holdings notifications filed on Feb. 13 and Feb. 12, following a BetMGM business update posted back on Feb. 4.
BetMGM reported a 33% jump in net revenue for 2025, reaching $2.8 billion, according to a statement from the U.S. joint venture. The company handed back $270 million to its parent firms during the fourth quarter. Looking ahead, BetMGM expects 2026 net revenue between $3.1 billion and $3.2 billion, and projected adjusted EBITDA of $300 million to $350 million. “2025 was a record year for BetMGM, outperforming expectations,” said CEO Adam Greenblatt. Entain
Entain shares climbed roughly 8% on Feb. 4, following the BetMGM outlook and news of a $270 million distribution, according to a Reuters report. The article also flagged tougher oversight and increasing state taxes as the U.S. sports betting industry matures—factors that could limit further margin growth.
Barclays PLC has snapped up 5.11% of Entain’s voting rights, according to a TR-1 notice released Feb. 13. The bank crossed that mark on Feb. 6, most of it via financial instruments. TR-1 filings flag UK investors whose voting stakes move past preset thresholds.
The risk to the downside hasn’t gone anywhere. Entain warned that new UK duty rules set for April 2026 may tack on around £200 million each year in extra costs to its UK and Ireland online operations, at least before any offsets. CEO Stella David didn’t mince words: “We are deeply disappointed by today’s decision to punitively increase UK gambling taxes”. Investegate
Traders are eyeing UK inflation and retail sales figures this week for any hints on rates, but what’s really on the radar is Entain’s results due March 5. Focus there: tax mitigation, plus realistic projections for BetMGM’s cash generation out to 2026.
