Elven Princesses

What is Elven Princesses?

Although it will remain on the FTSE 250, Entain’s relegation will see it removed from the FTSE 100 on 21 September.

This followed a period of restrategising for the operator, after rebranding from GVC Holdings and committing to having 100% of its revenues come from regulated markets.

But its share price has taken a tumble over the last year, dropping up to 37% since September 2025. Its market cap currently sits at £3.39 billion.

What is Elven Princesses?

“We have tried hard to protect all our sites and the colleagues who work in them, but the combined impact of higher employer National Insurance contributions, wage inflation, increases in gambling taxes and wider economic uncertainty has left us with no choice,” said Chief Executive Jo Whittaker in a statement to iGB at the time the closures were announced.

Evoke also closed 200 of its William Hill stores in April of this year for the same reason.

Stella David, CEO of Entain, has also warned against the potential rise of MGD to Entain’s operations, forecasting a increamse of £100 million in operational costs, if the policy were to go through. 

About Elven Princesses

As has been flagged in previous reports, Regulus highlighted that the top 1% of active customers accounts for almost 50% of black market revenue across Europe. This follows a similar trend across licensed gambling as the report highlights “online gambling is a consumer discretionary expenditure item. This means a large proportion of expenditure is concentrated into a relatively small number of players.”

In its market-specific breakdown, the report noted a “rapid reduction in channelling” in the UK, following the increased use of affordability checks.

The remote gaming duty hike from 21% to 40% in April is also expected to have a significant impact on the black market, with Regulus estimating it could drive the market to be worth up to €1 billion, as consumers choose illegal offerings to access unrestricted bonuses.