Sky Bet­ting quiet on flota­tion ru­mour

Yorkshire Post - - BUSINESS -

LEEDS-BASED SKY Bet­ting & Gam­ing has de­clined to com­ment on re­ports that the com­pany could be plan­ning a flota­tion.

It has been re­ported that Sky Bet’s ma­jor­ity owner CVC has hired in­vest­ment bank Roth­schild to ex­am­ine a stock mar­ket list­ing of the firm, seek­ing to take ad­van­tage of boom­ing eq­uity mar­kets and the growing pop­u­lar­ity of on­line gam­bling.

A flota­tion could value the busi­ness, which is led by chief ex­ec­u­tive Richard Flint, at be­tween £2.5bn and £3bn in­clud­ing debt, ac­cord­ing to the news agency Reuters.

Roth­schild is or­gan­is­ing a so­called beauty con­test next week to choose the banks to ar­range the ini­tial pub­lic of­fer­ing (IPO), one of the sources said.

Pri­vate eq­uity firm CVC de­clined to com­ment. In Novem­ber last year, Sky Bet­ting & Gam­ing re­vealed it had picked up an ex­tra half a mil­lion cus­tomers over the pre­vi­ous year as its rev­enue soared by 38 per cent to £516m.

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