Industry experts are weighing in on whether a sale of Bet365 is on the horizon.
The future of bet365 is currently shrouded in speculation. Rumors suggest that the Coates family, who have long held control of one of the world’s most prominent privately owned betting companies, might be considering putting the company up for sale. Valued at an estimated £9 billion, bet365’s potential sale has caught the attention of industry insiders and investors alike, igniting discussions about who could possibly take the reins. Bet365 sale
Recent strategic decisions hint at a possible shift in ownership. In March 2025, Bet365 announced its withdrawal from the Chinese market—a move that surprised many but was likely a calculated step to reduce risk. An internal email revealed that the company intends to focus on “core markets and regions that provide long-term sustainable revenue,” signaling a reassessment of its global footprint. Exiting China’s complex and often opaque regulatory environment might be seen as a move to make the company more appealing to future buyers, rather than an indication of financial distress.
This isn’t the only repositioning. In 2024, Bet365 spun off Stoke City Football Club, removing a legacy asset from its corporate structure. While historically linked to the Coates family, the club is now a separate entity, making it less complicated for potential investors.
What makes Bet365 such a prized asset? Its impressive financial and operational standing sets it apart. With annual revenues of around £3.7 billion, it maintains a fully integrated tech platform and manages its trading operations in-house—a rare feat in the betting industry. The company operates across more than 150 markets and remains free of debt, further enhancing its appeal. Its private status means it has operated largely out of the limelight, under the radar of public markets and media scrutiny, a strategic advantage that may influence how any future sale unfolds.
The landscape of potential buyers is diverse. Private equity firms are front and center in the conversation. Heavyweights like Blackstone, Apollo Global Management, and CVC Capital Partners are considered prime candidates, given their strong track record in gambling, tech, and consumer sectors. For instance, Blackstone’s previous investments include stakes in Australian casino operator Crown Resorts and Eastern European sportsbook Superbet. Similarly, Apollo has expanded its gaming portfolio with acquisitions such as IGT’s Global Gaming division and Everi, a major provider of casino technology and fintech solutions. CVC, which once owned Sky Bet, has a history of strategic investments that align well with Bet365’s business model.
These firms have the financial muscle to close a deal of this magnitude and may choose to keep Bet365’s current leadership in place temporarily, aiming to optimize operations and expand globally before exiting through a sale or IPO. Interestingly, the private nature of such deals offers a level of discretion that might appeal to the Coates family—especially if they prefer a partial sale that preserves some control. Bet365 sale
Could an American operator make a move? Companies like DraftKings and Caesars Entertainment are often mentioned. DraftKings, with its technological infrastructure and ambitions to strengthen its presence in Europe, could see value in acquiring Bet365’s extensive international reach. However, its ongoing losses and reliance on equity funding might pose obstacles.
Caesars, meanwhile, could leverage a Bet365 acquisition to accelerate its international growth and improve its digital offerings. The company already has a foothold in the U.S., with its sportsbook operational in 13 states and plans to expand further. Industry analysts suggest that Coates’ strategic focus on U.S. expansion makes a bid from Caesars or similar U.S. firms quite plausible.
Other industry players like Flutter Entertainment—owner of FanDuel and PokerStars—could also be interested, given their extensive M&A experience and desire to bolster their global sportsbook footprint. Entain, which owns brands like Ladbrokes and BetMGM, might be less likely due to recent financial pressures.
The valuation itself is noteworthy. With a price tag around £9 billion—based on a revenue multiple of approximately 2.4x—the figure seems reasonable within current market standards. If bidding intensifies, especially with interest from North America and Europe, that number could climb even higher, potentially reaching up to £12 billion.
It remains unclear whether the Coates family is aiming for a full sale or a partial stake. A minority investment could provide much-needed capital while allowing them to retain influence over the company’s future direction.
A sale of bet365 would mark a historic shift in the online betting world. It would be the largest change of ownership in the sector’s history and could signal the end of an era for one of the last major privately held, founder-led giants in gambling. Whatever happens next, the industry will be watching closely.
