Discussion Surrounding Proposed Change of Ownership for Bet365
The Coates clan ponders a massive bet365 sale, reportedly chatting it up with U.S. financial wizards and Wall Street bigwigs about the possibility of either offloading a chunk or the whole shebang.
According to The Guardian, the Coates clan is eyeing a couple of tantalizing possibilities—selling a stake to private equity sharks, or hosting a grand ball in the form of an Initial Public Offering (IPO) on the U.S. stock market.
These juicy morsels of gossip come on the heels of a storming financial year in 2024, during which bet365 reported a whopping £3.72 billion in revenue—a hearty 9% boost compared to the previous year. In March, the betting behemoth bailed on several Asian markets, including China, and since then has set its sights firmly on the Americas.
To grab a piece of the American pie, bet365 has expanded into the U.S. market by launching operations in Tennessee and Illinois in March, following its earlier entry into Peru in the first quarter of 2024. But keep in mind, while Hong Kong and Macau operate under separate regulatory regimes, mainland China remains unregulated, often referred to as a "dark grey" market. As of now, bet365 is kicking up a fuss in 13 U.S. states and maintains a hefty presence in the old country and other international playgrounds.
If the Coates clan decides to part ways with bet365, suitors could include private equity firms and colossal gaming or entertainment companies. The fact that they've been schmoozing with U.S. bankers and advisers hints that Yanks might be keen on buying in, either wholly or partially[1][2][4].
Several options are being mulled over for bet365's sale or floating—a full sale, a partial sale, an IPO, or even a spin-off, though the nitty-gritty details are scant[1][2][3][4]. In a nutshell, the Coates clan is tossing around various ideas, but no frontrunners have been named just yet.
In the wake of bet365's successful revenue growth in 2024, the Coates clan is considering various finance strategies, such as selling a stake to private equity firms or launching an Initial Public Offering (IPO) in the U.S. stock market. Additionally, with bet365's expansion into American markets like Tennessee and Illinois, potential suitors could include American gaming or technology companies, hinting at a possible 2024 financial move.
