The family that owns online gambling giant Bet365 is reportedly considering selling the business worth about £9bn ($12bn). The Guardian revealed on Thursday that the company held discussions with US advisers and Wall Street banks about a possible sale, which includes potentially going public on a US stock exchange.
talks the Coates family had with private equity firms about investing in the company
One of The Guardian’s sources also knew about talks the Coates family had with private equity firms about investing in the company before a flotation.
Bet365 is one of the biggest success stories to come out of Stoke and has been looking at ways to appeal more to US investors. It now operates in 13 states and withdrew from China in March, where online gambling is illegal.
Current chief executive Denise Coates makes headlines every year for her massive take-home pay, which soared as high as £466m ($621m) in 2020.
