According to insider reports, the Coates family, the founders and long-standing owners of globally-renowned online gaming operator bet365, are allegedly considering a sale of the company..
As per an unknown source, the owners of bet365 have entered talks with both Wall Street banks and US advisers and inquired about either a partial or a full-scale sale of the company.
The most appealing option for the Coates family at the moment, according to the Guardian, is a partial sale to a private equity firm. Another of the possible outcomes would be posting the company as an IPO (initial public offering) listing on the US stock exchange market.
What makes this deal a lucrative opportunity for the Coates family is the strong financial report for FY24, which saw the leading operator post a £3.72 billion revenue, which is a 9% increase when compared to full-year 2023.
bet365’s close ties with America shouldn’t come as a surprise, being that the company completely shifted its focus to the North American market, after it previously announced plans to exit from the Asian market, namely China and Hong Kong.
The best indicator of the new strategy of bet365 is the operator’s expansion in two lucrative US markets, Tennessee and Illinois. Additionally, bet365 also started its expansion efforts in Latin America, which saw the operator debut in the newly-regulated iGaming market of Peru at the beginning of 2024.
At the moment of writing, bet365 has a strong presence across a total of 13 US states, which is in addition to its massive foothold in the United Kingdom, and is currently valued at £9 billion ($12 billion).
