SkyBet makes a push for global expansion but plays down float

The boss of gaming website SkyBet is gearing up for international expansion but has played down talk of an imminent float.

Private equity firm CVC bought a majority stake in SkyBet valuing the business at £800 million in December 2014 although industry speculation has centred on a listing which would potentially value the business at as much as £1.5 billion.

Chief executive Richard Flint, however, stressed there was no initial public offering process under way for the business, which has 1.5 million active customers and posted revenues of £247 million last year.

Flint said: “CVC will exit at some point. I think [a float] is the most likely move, but when that is depends on all sorts of things. But there are no current plans and certainly no firm date.”

But satellite broadcaster Sky retains a 20% stake in the company, which Flint is hoping to take advantage of to spur the website’s overseas growth.