Considering a potential $12 billion sale via a US stock market flotation, according to reports about Bet365.
The betting juggernaut, Bet365, owned by the Coates family, is rumbling rumors of a sale worth around £9bn ($12bn). As reported by The Guardian on Thursday, talks about a potential sale have been brewing, with chatter about listing the company on a US stock exchange possible, too.
Sources also tip a hat to discussions the Coates clan had with private equity firms, eyeing investments in the company prior to going public.
Blooming from the concrete jungle of Stoke, Bet365 stands tall among success stories, ambitiously courting US investors. It has established its presence in 13 states, recently pulling the plug on China, where online gambling is forbidden.
Each year, the company's current chief executive, Denise Coates, hogs headlines for her eye-watering earnings. In 2020, that figure skyrocketed to a whopping £466m ($621m).
Enrichment Data:
- A wave of possibilities is surfacing for Bet365, with potential buyers and a US stock exchange listing under consideration.
- The company is contemplating a move to the US stock market, marking its transition from a private entity to a public one.
- No specific buyers have been identified as of yet, but industry analysts are eyeing US-based operators like DraftKings as potential suitors.
- With estimates ranging from £9bn to $12bn, Bet365's valuation reflects its global reach and recent profitability.
- Following a full sale, Denise Coates, who owns 58% of Bet365, could cash out a staggering £5bn.
- According to recent reports, Bet365 is exploring various possibilities, including potential buyers and a US stock exchange listing.
- Rumors suggest that Bet365 is contemplating a transition from a private to a public company, by moving to the US stock market.
- Industry analysts are speculating that US-based operators like DraftKings could emerge as potential buyers for Bet365, given its estimated valuation of between £9bn and $12bn.
- If the Coates family decides to sell Bet365, Denise Coates, who currently owns 58% of the company, could potentially cash out an impressive £5bn.
