Talk of Bet365 going on sale has got the gambling world buzzing, but many are not sure if Denise Coates, who started the company, is keen to sell. Even though nothing has been announced, rumors that Coates has brought in experts to look into selling or going public have got bankers and investors both excited and doubtful. This has led to a lot of activity in financial circles.
Bet365 Sale Rumors Jolt City Bankers as Coates Considers Her Next Move
The unexpected news has left some of London’s top dealmakers scrambling. JPMorgan, Jefferies, and other big banks were caught off guard and did not get invites to pitch, reported The Times. This is odd for a deal that could be worth about £9 billion ($12 billion). The company, based in Stoke-on-Trent, is a big name in global online gambling. Any change in who owns it would shake up the whole industry.
Coates, known for keeping things quiet and avoiding the spotlight, is thinking about her next move after the company decided to stop operations in China earlier this year. That market, where online betting is against the law, used to bring in a lot of money. Some experts think Bet365’s exit from China might mean they are getting ready for a big change in the company.
The US sports betting scene keeps growing fast since the government eased up on rules, but Bet365 has not grown there as much as other companies. People who know the industry say now might be a good time for Coates to think about selling, while investors are still keen and before more rules come into play.
Potential Sale of Bet365 Hits Roadblocks Amid Buyer Shortage
However, selling the company could bring big problems. Checking everything out would take a long time, as the business is huge and complex. The fact that the Coates family still runs things makes it even trickier.
A source who knows the company well said there is no clear successor ready to take charge next. This means selling might be the only real option for the future. Yet not many people can buy it. Lots of big funds will not touch gambling businesses because of the strict rules. Some banks also cannot get involved in deals related to gambling.
Private equity companies like Apollo, CVC Capital, and Blackstone could potentially buy Bet365, though none have openly expressed interest. Among public firms, US-based DraftKings might be the only real contender, but its finances would require a complicated stock-based agreement.
So far, Bet365 has not commented on the rumors, leaving the sector to wonder what is next. It is still unclear if this is a real chance for a big deal or just clever positioning.