Coates Family Consider £9bn bet365 Sale
Published on by Zena Grantham
The Coates family, founders of the UK-based gambling giant bet365, is reportedly exploring a high-stakes sale of the business, or at least a portion of it. In a Guardian released this morning, the bet365 sale could be worth £9 billion.
According to sources, Denise Coates and her family have entered discussions with several Wall Street banks and US-based advisers to explore various strategic options. These include a partial sale to private equity, a complete sale, or a listing on a US stock exchange – a move that would position bet365 squarely in the heart of the world’s fastest-growing gambling market.
Humble Beginnings to a Powerhouse
Founded in a Portakabin in Stoke-on-Trent in the early 2000s, bet365 has become one of the most powerful betting companies in the world. Under Denise Coates’ leadership (58% stakeholder), the business has amassed a global following and a stronghold in the UK, while more recently ramping up its presence in the United States.
Since 2018, following a landmark Supreme Court ruling that lifted the federal ban on sports betting, bet365 has secured licences in 13 US states, with more expected to follow. Analysts say this American pivot is no coincidence, and a New York or NASDAQ IPO could unlock substantial value for the company while opening the door to institutional investors.
What’s on the Table?
No final decision has been made at this stage, but the process has reached what insiders call the “beauty parade” phase, where banks are informally competing for a lead advisory role.
One of the leading scenarios would involve a partial sale to private equity, allowing the Coates family to retain a stake while introducing new capital – a strategy often used to prepare for an IPO.
However, a full-scale deal could see Denise Coates earn upwards of £5 billion, marking one of the largest cash-outs in UK private business history.
bet365 Sale: End of an Era?
The timing is notable. With Coates approaching her 60th birthday and having already been paid more than £2 billion in salary and dividends since 2019, analysts believe this may signal the beginning of a carefully managed exit from day-to-day operations.
Recent decisions – such as exiting the Chinese market, where gambling is illegal, and transferring Stoke City FC ownership to her brother John Coates – further support the theory that the business is being prepped for external investment or sale.
What Could Change?
While the financial upside of a sale is clear, there are concerns about the wider impact. bet365 is a major sponsor of British horse racing and greyhound sports, and new ownership could potentially affect that relationship.
Still, industry experts suggest that a sale or IPO would be a more logical step in bet365’s future. With US gambling revenues expected to soar in the coming years, tapping into the US market with a public listing could significantly boost the brand’s international footprint and value.
After more than two decades as one of the UK’s most successful privately held businesses, bet365 may soon enter a new chapter – and if the £9bn figure proves accurate, it’ll be one of the biggest handovers in online gambling history.