Sky Bet pours cold water on IPO reports
Operator says it has yet to decide on public listing plans despite national press suggesting early 2017 debut
Sky Betting & Gaming (SB&G) says no decision has been made regarding a potential company flotation following increasing speculation the operator is planning to make its stock market debut next year.
The Leeds-headquartered firm has long been rumoured to be eyeing a public listing and according to The Sunday Telegraph, SB&G-owner CVC Capital Partners is in the early stages of implementing the strategy.
The newspaper claims a £1.5bn flotation is likely to occur early next year in partnership with Sky, which still owns a 20% stake in the operator. Earlier this week sources told eGaming Review a flotation had been pencilled in for February.
However, SB&G released a statement this week to stress that “no decisions” had been made and “no process started” regarding a potential IPO.
SB&G has undergone a period of substantial growth in recent years and earlier this year reported a 36% increase in annual revenues for the 12 months ended 30 June 2015.
The figures were the first released since private equity firm CVC acquired an 80% stake in SB&G in March 2015, a deal which valued the operator at approximately £800m.
The operator’s revenues are largely derived from the UK but is expected to make its international debut in the Italian online gambling market later this year.