Category
🥇
SportsTranscript
00:00Now, this one caught me by surprise here, given the inroads that Bet365 has made over the last couple of years, Sam, in the United States.
00:07Is there a possibility that Bet365 is ready to sell their company?
00:12I did not see this coming.
00:15Yeah, just briefly on that last story, I think the sportsbooks want to make sure that everyone is playing by the same rules.
00:21So if these companies can do it, they want to do it, too.
00:23They want to be in 50 states so they don't have to pay for licenses.
00:25But speaking of sportsbooks, like you mentioned, Bet365, one of the world's largest gaming companies is a surprise to me as well, reportedly considering a sale.
00:35The Guardian reported it yesterday that the Coates family is in talks to either sell the entire global business of Bet365 or just certain parts of it.
00:45And that's the monumental online sportsbook that was founded by Denise Coates in a port-a-cabin years ago.
00:53So it would be a huge, huge come up for her.
00:56Reportedly, the sale is going to be around $12 billion, and she would make about $5 billion of that because she owns 58% stakes.
01:04So, yeah, this is one of the biggest companies in the world.
01:08It's kind of interesting.
01:09They really haven't done – we're not as aware of them in the U.S. because they really haven't ramped up stuff.
01:13They're licensed in, I think, only about 13 states, and they only have 3% of the market share.
01:18So a lot of people have been kind of looking at this company for a long time as sort of a sleeping giant because, you know, they have the technology that we've talked about being key for sportsbooks, you know, just becoming good businesses and acquiring and keeping customers on the platform.
01:31They've demonstrated that across the world.
01:34They certainly have a lot of money that privately owns so they don't have to adhere to a lot of the constraints that, you know, a lot of other sportsbooks do.
01:41That could change if it's sold.
01:43It could be listed in the U.S.
01:44They're reportedly talking with private equity firms and banks, so we'll see what happens there.
01:49But it would be really interesting to see who ends up buying it and what they do with it, especially in the U.S., considering they do have licenses in a lot of states but really haven't ramped up their actual operations beyond the run-of-the-mill default sports, you know, sign-up $5 to, you know, bet $200 promo.
02:06There's a lot they can do that they kind of have been waiting on the sidelines.
02:09And you have to wonder, maybe they didn't want to ramp up U.S. business because they knew this sale was coming.
02:14So, yeah, really fascinating story and would be one of the biggest sales in gaming in a long, long time.