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00:00All right. So let's get started here. Bet365, who have been around a long time, even before the days of FanDuel and DraftKings, and sort of infiltrated the United States, too, after being overseas for many years, maybe looking at a potential sale. What would that look like?
00:16Yeah, so news broke last week out of London from The Guardian, and it said that Denise Coates, who's the leader of Bet365, was talking to Wall Street last week, or recently, about potential sale options.
00:30She's 57. She started it with her brother in 2000, or the online segment, after inheriting their father's chain of, you know, brick-and-mortar stores.
00:42And so now it's just time to see, you know, what are the options? She is already the highest-paid woman in the UK, so that's, you know, she's got some money, but she wants to find out what's next, according to The Guardian.
00:55And that could mean anything. It could mean a private equity sale. There's talk of spinoffs of different parts of the business, perhaps a public listing here in the U.S., maybe a takeover from another company, though, you know, we'll see what any of those options could be.
01:11But it is, you know, estimated to be about a £9 billion business, but that's up, you know, in USD, that's about $12 billion, so it's nothing to sneeze at. Probably certainly limits the suitors.
01:25And it is interesting, because it is one of the world's biggest sportsbooks, prominent for sure, and it hasn't made a ton of noise here in the U.S.
01:33It probably has about 3% market share. It's recently amped up its activity in the U.S. over here, but again, not, you know, making too much noise compared to DraftKings and FanDuel,
01:46but we'll see what happens as the market continues to mature. Of note, you know, like I said, they've really started to amp up their activity.
01:55The St. Louis Cardinals, we talked about this a couple months ago, announced that they will be the partner in Missouri, which I remember you said, you know, that is Missouri's team, not necessarily the Chiefs.
02:05I remember you're very adamant about that. So, you know, they are making some moves, and we'll see if this sale does happen or a public listing, and if it's in the U.S.,
02:17because most of that capital ability would probably be on Wall Street, how much does that help maybe grow it and maybe refocus efforts in the U.S.?
02:25It's going to be certainly something interesting to watch as one of the world's most prominent sportsbooks.