The Coates family is exploring the potential of a vast sale for sports betting corporation Bet365.
Coates Family Ponders Full or Partial Sale of Bet365
According to reports, the British Coates family is mulling over a potential sale of sports betting behemoth Bet365. The billionaire family, the current owners of the online gambling giant, has engaged in talks with US investment banks and advisors regarding strategic options, such as an initial public offering (IPO) on a US exchange or a partial sale to private equity investors.
A preliminary evaluation of around 9 billion GBP (approximately 10.6 billion EUR) is under consideration. However, no final decision has been made, and the process is presently in an advanced stage. In addition to a classic IPO or partial sale, discussions regarding the potential spin-off of certain business units are also being considered.
Strategic and personal factors may be behind the potential sale, as suggested by market observers. CEO Denise Coates, who holds 58% of the shares and stands to gain around 5 billion GBP (approximately 5.9 billion EUR) through a sale, has made notable moves over the past year. She oversaw Bet365's withdrawal from the legally complicated Chinese market in March 2025, and she recently transferred control of the family-owned football club Stoke City FC to her brother John.
Growing out of an office container in the English town of Stoke-on-Trent, Bet365 rose to prominence within two decades to become one of the largest online betting providers worldwide. Led by Denise Coates, the company may soon witness its next significant shift with a potential billion-dollar sale or IPO.
Key figures and facts about Bet365:- Founding: 2000 by Denise Coates in Stoke-on-Trent, UK- Ownership: Denise Coates owns 58% of the shares, with the rest mainly in the hands of other Coates family members- Employees: Over 7,000 worldwide- International Presence: Active in over 20 jurisdictions, including Germany, Spain, Argentina, and 13 US states- Sponsorship: Long-standing sponsor of Stoke City FC and, since 2024, official global partner of the UEFA Champions League- Technological Strength: Pioneer in live betting, now a central part of the offering- Regulatory Issues: In April 2024, the UK Gambling Commission imposed a fine of 582,120 GBP (around 683,000 EUR) on Bet365 for breaches of anti-money laundering requirements
The moves made by Denise Coates, particularly the exit from the Chinese market, might be seen as preparatory steps for a deal with US investors. Focusing on core and sustainable markets is expected to make Bet365 more appealing to potential institutional buyers.
Lately, Bet365 has expanded its presence in regulated markets such as the USA, Brazil, and Peru, and it is now active in 13 US states. Recent partners include the St. Louis Cardinals baseball team in Missouri.
Financially, Bet365 is in robust health. For the fiscal year ending March 2024, the company reported a nine percent increase in revenue to £3.72 billion (around €4.36 billion) and a pre-tax profit of £626.6 million (around €735 million)—after registering a loss the previous year. An IPO on a US exchange would mark a significant milestone and could potentially position Bet365 as the largest listing of a gambling company globally.
A successful IPO for Bet365 could serve as a new benchmark for the valuation of competitors like Flutter or Entain, and subsequently influence the market value of similar firms. Simultaneously, such a move would require Bet365 to adhere to strict disclosure requirements—a considerable departure from its previously under-the-radar culture.
While industry analysts are mixed about whether a sale will ultimately transpire, the increasingly competitive landscape and the growing maturity of the market suggest that Bet365 may be on the cusp of its next growth phase under new ownership.
"Everyone I talk to says the only company they'd like to invest in is Bet365," said Alun Bowden, an analyst at EKG. "Although there's a sense that the company might be fading, it's still one of the best online sports betting companies in the world."
Speculations persist that personal considerations within the Coates family might also factor into the equation. As Denise Coates approaches her 60th birthday, rumors suggest that she may look to pass the company on to new hands after two decades of rapid growth.
What could be the sports Bet365 might focus on if a partial sale to private equity investors occurs?Sports could potentially remain a significant focus area for Bet365, given the strategic value it holds as a key part of the company's offerings, even in a partial sale scenario.
