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Bet365 may soon enter a new phase. The company is reviewing multiple possibilities that include a full sale, a partial private equity deal, or a U.S. stock exchange listing. Wall Street banks and American advisers are involved in ongoing talks, according to reporting from The Guardian.
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Financial performance in the past year has added momentum to these conversations. For the twelve months ending March 2024, Bet365 posted a revenue increase of 9 percent, reaching £3.72 billion, or approximately 4.96 billion US dollars. It also returned to profitability, recording a pre-tax profit of 626.6 million pounds—roughly 835 million US dollars. That followed a 12.4 million pound loss the year before.
In the background, the Coates family is considering how to approach this shift. One route would involve a private equity deal. That move could provide capital while allowing the family to maintain a leadership role. Another option under discussion is a U.S. IPO, which would bring in institutional funding and expand the company’s investor base.
The family has already made some changes to prepare. In March, Bet365 exited the mainland China market. Around the same time, leadership of Stoke City Football Club moved to John Coates, brother of Denise Coates. These adjustments could simplify the group’s structure and make it more attractive to outside investors.
If Bet365 lists publicly, new regulatory challenges would follow. U.S. legislation aimed at consumer protection may raise operational costs. A listing would also mean increased scrutiny from the Securities and Exchange Commission and higher expectations from shareholders.
In the United Kingdom, new proposals from the Gambling Commission include tougher advertising rules and mandatory affordability checks. These potential changes could reshape the company’s business at home, creating additional pressure to grow in other markets.
James Norton from Shore Capital commented on the potential impact of a Bet365 listing. “It would be the largest gambling float ever and could redefine valuation benchmarks for peers like Flutter and Entain,” he said. “More importantly, it would cement online betting’s status as a mainstream, investable sector.”
Bet365 has grown rapidly since 2000, when it began as a small bookmaker in Stoke-on-Trent. Over time, the business expanded into over 20 jurisdictions, offering poker, casino games, bingo, and sports betting. Much of its success came from in-play betting technology, which helped the company capture large shares of the European and Australian markets.
Looking ahead, the sports betting market in the United States could reach over 23 billion dollars by 2029, providing a major opportunity for Bet365 if it chooses to go public there.
Even with speculation growing, the Coates family has shown a preference for maintaining control. Denise Coates holds an estimated fortune of 7.5 billion pounds, or 10 billion US dollars, and has typically avoided ceding influence over company decisions.