Bet365 owners explore £9bn sale amid strategic shift toward US market
The Coates family, founders of Bet365, are reportedly considering a sale of their online gambling enterprise, potentially valuing the company at £9bn. Sources indicate that discussions with Wall Street banks and U.S. advisers have explored options including a full or partial sale, as well as a possible initial public offering (IPO) on a U.S. stock exchange.
Denise Coates, who holds a 58 per cent stake in Bet365, could realise over £5bn from a complete sale. The company, based in Stoke-on-Trent, has expanded significantly since its inception in 2000, now operating in 13 US states and seeking further growth opportunities.
Recent strategic moves, such as exiting the Chinese market and transferring ownership of Stoke City FC to Denise’s brother, John Coates, are seen as efforts to streamline operations and enhance appeal to U.S. investors.
Bet365 reported revenues of £3.7bn and a pre-tax profit of £596.3m for the year ending March 2024. Analysts suggest that the company’s strong financial performance and presence in the growing U.S. sports betting market make it an attractive candidate for investment or acquisition.
While Bet365 has not officially commented on the potential sale, the company’s actions indicate a strategic shift toward markets with sustainable growth prospects, aligning with the broader industry trend of focusing on regulated markets.
