Bet365 Reported To Be Up For Sale At £9 Billion – iGaming Post
Denise Coates could be in line for a bumper sale.
Recent media reports suggest that the Coates family, the driving force behind the meteoric rise of Bet365, is considering the sale of their gaming empire, currently valued at around £9 billion. This potential move could reshape the dynamics of the gambling industry as we know it.
Understanding Bet365’s Remarkable Growth
Founded in 2000, Bet365 has transformed into a leading player in the global online gaming market. Under the astute leadership of CEO Denise Coates, the company has broadened its influence significantly, particularly in the United States. Following the landmark legalization of sports betting in 2018, Bet365 has successfully acquired licenses across multiple states.
Financially, Bet365 has maintained an impressive growth trajectory. Since 2019, the Coates family has reportedly earned over £2 billion in salaries and dividends—a testament to their profitable operations and strategic growth within the sector.
Evaluating Sale Options
Amid reports of potential interest in a sale, the Coates family is engaging with U.S. banks and financial advisors to explore various future scenarios for Bet365. This evaluation process has reached what is commonly referred to as the “beauty parade” phase, where investment banks compete to provide advisory services for a prospective sale.
Potential Sale Structures Explored
The Coates family is meticulously pondering multiple sale structures. Options include a complete sale of the business or a partial sale to a private equity firm, allowing the family to maintain a stake in Bet365. This strategy not only provides immediate liquidity but also positions the family to benefit from future growth—a particularly prudent move as the prospect of a public listing in the burgeoning U.S. gaming market becomes increasingly attractive.
Implications for the Gaming Sector
A potential sale of Bet365 could have far-reaching implications, especially in the British sports landscape, where the company has been a notable sponsor of horse racing and greyhound racing. A change in ownership could potentially impact the financial support these traditional sports receive, raising essential questions about the future of sponsorship in the sector.
The American gaming market presents a lucrative opportunity for Bet365. Recent strategic decisions, such as a withdrawal from the Chinese market and the transfer of Stoke City Football Club’s management to Denise’s brother, John Coates, reflect the family’s intentions to solidify their presence in the U.S. landscape.
Denise Coates has played a pivotal role in Bet365’s ascent. Her 58% stake underscores her substantial influence over company direction, and she is recognized as the highest-paid woman in Britain.
A Pivotal Moment Ahead
As Denise approaches her 60th birthday, the contemplation of a potential sale signifies a critical juncture in her career. This decision may not only be about financial gain but also about ensuring the family’s legacy while capitalizing on the company’s current market valuation.
The Coates family’s consideration of a potential £9 billion sale is generating considerable buzz in both financial and gaming sectors. As discussions with financial advisors advance, the implications could reverberate throughout the industry. Whether they pursue a complete sale, a partial stake transfer, or a public listing, the outcome will undoubtedly influence the future trajectory of Bet365 and its pivotal role within the global gaming landscape.
