Sale of bet365 under discussion
The Coates family is reportedly exploring significant opportunities regarding the future of bet365, engaging with U.S. financial advisors and Wall Street banks to discuss both partial and full divestitures of the company.
These deliberations follow a remarkable financial year in 2024, where bet365 achieved revenue of £3.72 billion, marking a commendable 9% year-on-year growth. In March, the company strategically exited several Asian markets, including China, realigning its objectives towards the lucrative American market.
As part of this strategic pivot, bet365 has broadened its footprint in the U.S. by officially launching operations in Tennessee and Illinois this March, complementing earlier market entries in Peru during Q1 2024. This aggressive expansion underlines bet365’s commitment to capturing a share of the growing U.S. sports betting market.
While regions like Hong Kong and Macau operate under distinct regulatory frameworks, mainland China remains largely unregulated and is often referred to in industry circles as a “dark grey” market. At present, bet365 holds a competitive presence in 13 U.S. states while maintaining strong market traction in the UK and other international territories.
The ongoing discussions surrounding bet365’s potential sale reflect not only the company’s strategic vision but also the broader trends in the gambling industry. As U.S. markets continue to evolve and regulatory landscapes shift, bet365’s adaptability and proactive measures position it favorably in this dynamic environment.
