Sky Betting & Gaming dampens talk of IPO

Sky Betting & Gaming has rejected reports that it is to push ahead with plans to float on the stock market, stating that a final decision is yet to be made on the issue. UK newspaper The Sunday Telegraph recently said that private equity firm CVC is in the early stages of planning a flotation for the company, with suggestions that the move could come as early as next year. The newspaper added that CVC is considering a float in co-operation with UK pay-television broadcaster Sky, which still holds a 20% stake in the business, despite offloading its majority holding to CVC in March of last year. However, Sky Bet has denied that a floatation is close, with the Yorkshire Post newspaper quoting a spokesman as saying: “No decisions have been made or process started regarding these issues.” Related article: Sky Betting & Gaming acquires CORE Gaming