Bet365 could consider a $12 billion sale or a U.S. IPO as its next strategic move

Bet365’s majority owners, led by Denise Coates, are exploring a landmark £9 billion (≈ $12 billion USD) transaction that could see the company sold outright or floated on a U.S. stock exchange. This is according to a report by The Guardian, which reveals informal talks with Wall Street banks and U.S. advisers weighing both a full divestment and a partial private equity deal, followed by an American IPO.

One option on the table is a partial sale to a private equity firm, a move that would free up significant capital for the Coates family while allowing them to maintain a controlling stake. Alternatively, an IPO in the United States would unlock access to deep pools of American investment, tapping into a sports-betting market that analysts forecast will swell beyond $23 billion USD by 2029, according to The Guardian.

Signs of a broader strategic overhaul are already evident. In March, Bet365 quietly withdrew from mainland China’s tightly regulated betting sector, and control of Stoke City Football Club passed to Denise Coates’s brother, John—decisions, The Guardian reports, meant to streamline the group’s portfolio for potential suitors.

The operator’s latest financials only reinforce its allure. For the year to March 2024, Bet365 posted a 9 percent jump in revenue to £3.72 billion (≈ $4.96 billion USD) and swung back into pre-tax profit of £626.6 million (≈ $835 million USD), a remarkable recovery from a £12.4 million (≈ $16.5 million USD) loss the year before—details disclosed to The Guardian. Such resilience positions the business as a prime target for both private-equity players and public-market investors.

Since its launch in 2000, Bet365 has evolved from a modest Stoke-on-Trent bookmaker into a global powerhouse, offering sports betting, casino, poker, and bingo in over 20 jurisdictions. Its proprietary in-play technology transformed the user experience, capturing market share in Europe and Australia—but with growth in mature markets showing signs of fatigue, the company is under pressure to find new growth frontiers, sources told The Guardian.

Regulatory headwinds are also gathering pace. The UK Gambling Commission’s proposed clampdown on advertising and the introduction of mandatory affordability checks could reshape Bet365’s UK business, while pending U.S. consumer-protection legislation threatens to hike compliance costs for any operator listing stateside. A U.S. IPO would bring fresh capital, but also the scrutiny of SEC disclosure rules and increased shareholder expectations around responsible gambling.

Market watchers argue that a Bet365 listing would represent a watershed moment. “It would be the largest gambling float ever and could redefine valuation benchmarks for peers like Flutter and Entain,” says James Norton of Shore Capital. “More importantly, it would cement online betting’s status as a mainstream, investable sector.”

Despite the speculation, the Coates family appears resolved to preserve Bet365’s private-company ethos. Denise Coates, whose personal fortune is estimated at £7.5 billion (≈ $10.0 billion USD), has historically favored maintaining control over ceding influence. Whether through a partial sale or full IPO, Bet365’s next chapter—rooted in The Guardian’s exclusive reporting—will be closely watched across the industry.