Written by :
Published on :
Bet365 owners are reportedly mulling over a £9bn sale of the gambling giant, according to reports that surfaced over the week.
The billionaire founders Denise and John Coates are reported to be in talks with American banks and advisers over a possible sale or IPO.
Denise Coates is one of the richest women in Britain, believed to have received a payout of £158.7 million last year.
The group is based in Stoke-on-Trent and earned revenues of £3.7 billion in the year ending March 31, 2024, its most recent accounts filed at Companies House show. It swung from a loss of £72.6 million to pre-tax profit of £596.3 million. The company is one of the few original stand-alone European bookmakers to enjoy modest success in the US regulated market (Gambling911.com was welcomed into their brand new Colorado headquarters last year). Competitors Betway, Unibet and BetFred were forced to flee the market last year. The company is also one of the successful few privately run entities in the space, both in the US and UK.
Maksim Afanasevr,Director of Sports Radar, posted his analysis of a potential acquisition via his LinkedIn page.
"Today's headline from The Guardian certainly grabs attention, but the £9 billion figure is speculative. The only source behind it is Eilers & Krejcik Gaming, LLC, who suggested bet365 might be worth that much based on typical industry multiples.
"No confirmed deal, no buyer, and no formal valuation (yet)
"Still — if we entertain the number, how does it stack up against the competition?"
Jordan Erasmus, CEO of Retention Studio, writes:
"Everyone’s reading this as a sale or IPO... and a beauty parade is just a quiet way to test the market, spark competition and gather leverage - without commitment. the Coates family is listening. smart move."
|
|
