Satellite broadcaster Sky has actually offered a bulk stake in Sky Bet, valuing the betting operation at ₤ 800m.
The Leeds-based operation, which consists of websites such as Sky Vegas and Sky Bingo, is being bought by private equity group CVC Capital Partners., external
Sky will be paid ₤ 600m when the bet9ja's welcome offer is finished next year and will retain a 20% stake.
Betting and video gaming was not regarded as part of Sky's core organization, a representative stated.
The sale would enable it to focus on the "substantial development chances" in pay-tv in the 5 European markets it operated in, Sky stated.
The business just recently completed the acquisition of Sky Italia and a 90% stake in Sky Deutschland, bringing its consumer base to 20 million throughout Britain, Ireland, Germany, Austria and Italy.
Jeremy Darroch, president of Sky, said the sale realised "considerable worth" for investors.
Shares in Sky increased 1.2% to 938p in London, valuing the business at simply over ₤ 16bn. The stock has increased by nearly 20% in the previous 12 months.
'Successful property'
Analysts at Citi stated Sky could use a few of the earnings to buy out the remaining minority investors in Germany, including: "We believe a sale of Sky Bet is a reasonable strategic move."
Investec explained Sky Bet is a "non-core however extremely effective possession" and stated profits must assist the business pay down debt, which was anticipated to be ₤ 6.3 bn for the 2015 monetary year.
CVC, which has had an interest in the wagering and video gaming sector with stakes in companies such as William Hill and IG Group, shopped Betfair in 2015 in a ₤ 1bn bet9ja's welcome offer. However, the two companies stopped working to settle on price.
The personal equity group manages the yohaig code Formula One motor racing organization.
Sky Bet will stay in Leeds with all personnel relocating to the brand-new entity.
The company generated net revenues of ₤ 182m in the year to June 30 and pre-tax revenues of ₤ 50m.
Sky has struck a long-term brand name licence agreement with Sky Bet.
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