Bet365: Billionaire Coates family consider £9bn sale of betting giant
The billionaire Coates family is exploring a potential sale of Bet365, the online gambling powerhouse they founded, in a deal that could value the business at up to £9bn.
Stoke-on-Trent-headquartered Bet365, which is led by Denise Coates, has recently held talks with Wall Street banks and US advisers about strategic options including a full or partial sale, as well as a future floating on a US stock exchange, reported the Guardian.
One option reportedly being considered is a partial sale to private equity, with the Coates family retaining a stake before an eventual IPO.
The company is also said to have reached the “beauty parade” stage, where banks are informally competing to advise on a potential deal.
A sale could net Denise Coates, who holds a 58 per cent stake, more than £5bn.
Under her leadership, Bet365 has grown to one of the most successful online gambling platforms in the world.
The firm has aggressively expanded into the US, winning licenses in 13 states since a 2018 Supreme Court decision opened the door to regulated sports betting.
Recent moves, including Bet365’s exit from China and the transfer of Stoke City FC to Denise’s brother John, are seen as part of efforts to make the firm more appealing to US investors.
While Bet365 declined to comment, analysts say a US listing would offer an attractive exit strategy amid soaring demand for gambling investments.
Some warn, however, that a sale could have implications for British horse racing and greyhound sports, which Bet365 heavily sponsors.
Denise Coates has received more than £2bn in pay and dividends since 2019, making her Britain’s highest-paid woman.
A potential exit, timed just before she turns 60, would market the end of a two-decade rise from a Portakabin start-up to global betting giant.