Bet365 Owners in £9bn Sale Talks with US Investors
The owners of Bet365 are reportedly in talks with US investors over a deal that could value the British betting brand at as much as £9 billion.
Investment in Bet365 could value the company at £9 billion © Towfiqu barbhuiya, Unsplash
Key Facts:
- Bet365 is privately owned by members of the Coates family
- Founder and Bet365 boss Denise Coates is the highest paid female boss in British corporate history
- But she appears to be considering selling up to US investors
- Talks with Wall Street banks have been held on Bet365’s future
Billionaire Denise Coates is the head of Bet365 and appears to be thinking about selling up.
Coates, who is one of the richest people in the UK, developed Bet365 from a chain of betting shops and has turned it into one of the world’s top online betting companies.
But the future of Bet365 is in the spotlight as talks with Wall Street banks and US advisers have been held recently, according to a report in the Guardian.
The newspaper cited sources that claim there is a plan to float the business on a US stock exchange, while other options may include a partial sale to a private equity investor.
Bet365 has yet to comment on the reports of a potential sale by the Coates family.
How Much Could Coates Net in Bet365 Sale?
Denise Coates, whose family also owns Stoke City football club, retains a majority stake in Bet365 and currently controls almost two-thirds (58%) of the business.
In 2017 Denise Coates became the highest paid female boss in Britain’s corporate history and Bet365 has been a huge success under her leadership, despite moments of controversy.
With Bet365 said to be valued at around the £9 billion mark, Coates could be in line for a payout in the region of £5 billion should she elect to sell up completely.
That would catapult Coates up the list of Britain’s richest people, but there is a long way to go until any potential sale of Bet365 goes through.
Coates rarely makes public statements and is unlikely to offer a comment on any Bet365 sale.
US Boom Catches Eye of Investors
While Bet365 is a British betting brand, the company has targeted the growing US market in recent years following the Supreme Court’s decision to give the green light to online gambling.
Bet365 already legally operates in more than a dozen states in America and is preparing the ground to launch in others once permitted.
Coates could be considering retirement as the 57-year-old approaches her 60th birthday, suggested EKG analyst Alun Bowden.
He told the Guardian:
“Now feels a very good time to explore exit opportunities, and the timing feels right with Denise turning 60 in two years’ time. For decades people have been telling me the one business they wish they could invest in was Bet365, and while there is a bit of an industry consensus that they are a fading star, they remain one of, if not the best, online sports betting business in the world, with huge headroom for growth in casino, the US and many other markets.” – Alun Bowden, EKG Analyst
Steps towards US investment have been made by Bet365 in recent times including splitting off Stoke City, which used to be part of the same empire, and pulling out of the Chinese market.
