The billionaire owners of Bet365 are reportedly contemplating a sale of the betting empire, with a potential valuation of around £9 billion.

According to The Guardian, Denise and John Coates, who founded the company, have initiated discussions with American banks and advisers regarding the possibility of selling the entire business or certain assets.

Bet365 is exploring several avenues, including the option of publicly listing the company, along with the prospect of divesting a share to a private equity firm prior to an initial public offering (IPO).

Denise Coates, one of the wealthiest women in the UK, co-founded Bet365 with her brother John in 2000 and currently holds a 58% stake in the company. If the business is sold at the proposed valuation, she stands to gain over £5 billion.

In the previous year, Coates reportedly received a payout of £158.7 million, a decrease from £207.7 million the year before. Notably, during the pandemic, she earned a record payout in the UK, totaling £469 million.

The company, headquartered in Stoke-on-Trent, reported revenues of £3.7 billion for the year ending March 31, 2024, as noted in its most recent filings with Companies House. The firm rebounded from a loss of £72.6 million to achieve a pre-tax profit of £596.3 million.

Speculation regarding Bet365’s future has arisen following the announcement of its exit from the Chinese market.

The group, which holds gaming licenses in multiple countries such as Argentina, Germany, Gibraltar, and Spain, declared in March that it would “no longer be providing our services to customers in China.” They added, “The group has decided to align its focus on core competencies in key markets, consolidating resources to target sustainable long-term revenue. Consequently, Bet365 will soon cease operations in various jurisdictions.”

This decision has led some analysts to suggest that the company is withdrawing from a market that might be contentious for US investors, indicating a potential move towards expansion in the US or preparing for an IPO.

Bet365 has been approached for a statement.