Bet365 may be preparing for one of the largest deals in gambling history, with reports suggesting the company is considering a sale, partial sale, or IPO. The Guardian reports that informal internal talks have taken place, and the business—led by Denise Coates—has consulted U.S. advisers and Wall Street banks in recent weeks. Bet365’s valuation reportedly sits at around £9 billion.
A partial sale to private equity is one option on the table. This would allow the Coates family to cash in while retaining a stake. Another route could see Bet365 list on the U.S. stock market. iGB reached out to Bet365 for comment but has not received a response.
Strategic Moves Fuel Speculation
Recent decisions by the company point toward strategic repositioning. In March, Bet365 exited the Chinese market, a move some see as an effort to clean house ahead of a transaction. China prohibits most gambling, and while Bet365 had previously denied breaking any laws, the company has now shifted focus to regulated markets like the U.S. and Brazil.
H2 Gambling Capital’s Ed Birkin believes this move hints at something larger. “Leaving China looks like preparation for a major change,” Birkin said. “It’s not just about regulation—it feels like part of a bigger plan.”
Experts Question IPO Feasibility
Industry analysts are divided on whether Bet365 would pursue a public listing. One M&A adviser said the idea resurfaces occasionally but questioned why the Coates family—known for guarding its privacy—would expose the business to public scrutiny. Listing would require major transparency, which could clash with Bet365’s historically low profile.
DraftKings has emerged as a potential buyer, although any deal would depend on both sides aligning strategically. Some experts also argue that £9 billion may undervalue Bet365, especially when compared to DraftKings’ $16 billion market cap.
Performance Strong, but Challenges Loom
Financial results for the year ending March 2024 showed Bet365 earned £3.72 billion in revenue, a 9% year-over-year increase. The company also returned to profitability, reporting £626.6 million in pre-tax earnings.
Still, Regulus Partners warned that Bet365 may be losing its competitive edge. They noted the company’s dominance in in-play betting is fading and that growth in mature European markets has stalled. Without a new growth engine, Bet365 could see further market share erosion.
