Sky Betting & Gaming denies IPO rumours

Flint
Richard Flint – Sky Betting & Gaming

The governance of Sky Betting & Gaming (SB&G) has stated that the betting operator has no current plans regarding a corporate flotation.

SB&G has moved to dismiss industry rumours, as UK newspaper The Sunday Telegraph reported this weekend that private equity owners CVC Capital Partners were eyeing the floatation of its asset in early 2017.

Acquired from UK broadcaster BSkyB Group in March 2015 for circa £800 million, The Sunday Telegraph reported that the CVC Capital were in the ‘early stages’ of reviewing a potential floatation of SB&G in partnership with BskyB who have retained a 20% equity in the online betting operator.

Issuing a short statement, SB&G governance moved to counter the news story stating “No decisions have been made or process started regarding these issues.”

Since its takeover by CVC Capital, SB&G has undertaken an aggressive expansion strategy growing its resources and operations in the cities of Leeds and Sheffield and launching its Sky Bet brand in the Italian online betting market.

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