The billionaire Coates family, owners of online gambling giant Bet365, is exploring a potential full or partial sale of the business in a deal that could value the company at £9 billion, according to a report by The Guardian.

Sources familiar with the matter say Denise Coates, Bet365’s founder and CEO, has led a series of confidential discussions with investment advisors to assess the company’s strategic options. These talks include the possibility of listing the company on a U.S. stock exchange or selling a minority stake to a private equity investor ahead of a future initial public offering (IPO).

Potential Deal Structures Under Consideration

The discussions are understood to be in an advanced stage, with the Coates family currently in the process of selecting an investment bank to structure any eventual transaction. Among the options reportedly being considered:

• Partial stake sale to a private equity firm, with the family retaining operational control
• Spin-off of non-core divisions to streamline the business for valuation clarity
• Full IPO, possibly on a major U.S. exchange, to unlock capital while expanding international exposure

Any of these paths would represent a significant shift for Bet365, which has been closely held and tightly controlled since its inception.

Denise Coates’ Expanding Control

Denise Coates, who will turn 60 in 2027, has steadily increased her ownership stake in Bet365 over the years. According to corporate filings, she raised her holding from 50.2% in 2019 to 58%, strengthening her control over the privately held enterprise.

Coates is widely recognized as one of the highest-paid executives in the UK and has long been regarded as the architect of Bet365’s rise into one of the world’s largest online betting firms. The company, founded in Stoke-on-Trent in 2000, now processes billions in wagers annually across global markets.

Market Conditions and Strategic Timing

The possible sale comes at a time of rising investor interest in profitable digital betting firms, particularly those with established operations in Europe and ambitions to grow in regulated U.S. markets. However, it also coincides with heightened regulatory scrutiny in several jurisdictions and increasing restrictions on gambling advertising and sponsorships.

Bet365, despite its private status, competes with publicly listed peers such as Flutter Entertainment and Entain. A public listing would not only inject new capital but also bring Bet365 into the mainstream of institutional investment portfolios.

Outlook: Transition or Transformation?

For years, Bet365 has stood out for its independence and family-led governance. A sale — even partial — would mark the most significant change in the company’s history. While no final decision has been made, the current exploratory talks suggest the Coates family is open to external investment or structural evolution in anticipation of longer-term market changes.

Further announcements are expected in the coming months once a lead advisor is selected and terms of any deal begin to take shape.