The Guardian: Coates Family Could Sell Bet365 for $12 Billion

The Coates family, owners of betting giant Bet365, are reportedly exploring a potential sale of the business in a deal that could be worth up to $12 billion, according to The Guardian.

Sources say the company’s top brass have held informal talks in recent weeks with Wall Street banks and U.S.-based advisors. Discussions have centered around multiple scenarios, including a full or partial sale of the business, as well as the possibility of taking Bet365 public via a U.S. stock exchange listing.

One possible route under consideration involves selling a minority stake to a private investor, while the Coates family retains control ahead of any future IPO (stock launch).

Another source familiar with the matter told The Guardian that Bet365 has also been in talks with investment firms potentially interested in acquiring a stake. Meanwhile, a separate iGaming Business source noted that DraftKings is among the companies that could emerge as a serious bidder.

If a deal goes through, 57-year-old Denise Coates, who leads the company, could see a payout exceeding $6.5 billion, based on her reported 58% stake in Bet365.

Earlier, we reported that bet365 announced that it will cease operations in China.