Contemplating a $12 billion sale through an initial public offering on the US stock market, according to rumors surrounding Bet365.
The gambling titan Bet365, owned by the Coates family, is allegedly mulling over the sale of their £9bn enterprise (The Guardian confirms this tidbit on a Thursday edition). It's been buzzing that the company is chatting with US investment bigshots and private equity firms about a potential sale, even contemplating a public listing on an American stock exchange.
Sources also hint at previous discussions between the Coates clan and private equity firms regarding investing in the company before a possible flotation.
Bet365, a Stokie success story, has been eyeing ways to attract more US investors. Now boasting an operation in thirteen states, it ceased operations in China in March, where online gambling is prohibited.
Denise Coates, the company’s current CEO, makes waves every year with her sky-high salary - it reached a whopping £466m ($621m) in 2020.
Interestingly, Bet365 is actively considering multiple strategies, including a US IPO and potential sale to private equity investors, who may eventually sell their stake to facilitate a future IPO, permitting the Coates family to retain a partial stake [1][2]. The strategic shifts align with the company’s focus on entering regulated markets like the US, where it holds a significant market share of around 2.5% [4].
Yet, no specific buyers have been named in these discussions, but the company has enlisted Wall Street advisers to investigate all possible options [1][4].
- The Coates family, who reportedly own the gambling giant Bet365, allegedly knew about previous discussions with private equity firms regarding investing in their £9bn enterprise before a possible flotation.
- Bet365 is apparently considering a US IPO and a potential sale to private equity investors, who may later sell their stake to facilitate a future IPO, allowing the Coates family to retain a partial equity in the company.
- The technology-driven sports enterprise, Bet365, is reportedly talking with US finance magnates and private equity firms about a potential sale and contemplating a public listing on an American stock exchange, indicating a move towards integration with the US finance and technology sectors.
- Denise Coates, the current CEO of Bet365, is financially powerful, making waves annually with her massive salary that reached a staggering £466m ($621m) in 2020, demonstrating the substantial gains the company has made in the sports and finance sectors.
