Bet365 owners weigh up the odds on £9bn sale

The Coates family, owners of gambling giant Bet365, are exploring a potential sale of the business, or a part of it, in a move that could value the company at around £9bn.

According to reports in The Guardian, the Stoke-on-Trent-based company has held talks with major Wall Street banks and advisers in recent weeks.

Discussions are ongoing about the future of Bet365, with several options on the table for the Coates family, including the possibility of a medium-term plan to list the business on a US stock exchange.

This would allow the company to tap into the expanding US sports betting market.

Another option under consideration is a partial sale to private equity firms, which would let the Coates family retain some ownership while bringing in outside investors.

Alternatively, the business could spin off certain parts of its operations instead of pursuing a full listing.

Sources say the process is still at an early stage, with Bet365 sounding out potential advisers to support a possible deal.

Founder Denise Coates, who still holds a 58% stake, could personally gain over £5bn if a full sale were agreed.

Bet365 began in a Portakabin in Stoke in the early 2000s and has grown into one of the world’s leading online betting firms.

The company has recently shifted its focus to the US, where it currently holds licences in 13 states and is seeking more as the market grows.

Industry analysts at Eilers & Krejcik Gaming (EKG) estimate the company could be worth up to $12bn, and say US sports betting revenues are likely to grow significantly over the next few years.

In preparation for a possible sale, Bet365 has exited the Chinese market, where gambling is illegal and handed over ownership of Stoke City FC to Coates’ brother, John.

If a deal goes ahead, it could mark the end of an era for one of the UK’s most successful privately-owned businesses.