Satellite broadcaster Sky has actually offered a bulk stake in Sky Bet, valuing the gaming operation at ₤ 800m.
The Leeds-based operation, which consists of websites such as Sky Vegas and Sky Bingo, is being purchased by personal equity group CVC Capital Partners., external
Sky will be paid ₤ 600m when the deal is finished next year and will keep a 20% stake.
Betting and gaming was not regarded as part of Sky's core service, a representative said.
The sale would enable it to focus on the yohaig code "significant growth chances" in pay-tv in the 5 European markets it operated in, Sky stated.
The company 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, primary executive of Sky, stated the yohaig code sale understood "substantial worth" for shareholders.
Shares in Sky increased 1.2% to 938p in London, valuing the company at just over ₤ 16bn. The stock has actually increased by almost 20% in the past 12 months.
'Successful possession'
Analysts at Citi said Sky could use some of the earnings to buy out the remaining minority investors in Germany, adding: "We think a sale of Sky Bet is a practical tactical move."
Investec described Sky Bet is a "non-core however extremely effective property" and said profits need to assist the business pay for debt, which was expected to be ₤ 6.3 bn for the 2015 financial year.
CVC, which has actually had an interest in the betting and video gaming sector with stakes in business such as William Hill and IG Group, tried to buy Betfair last year in a ₤ 1bn bet9ja's welcome offer. However, the yohaig code two companies stopped working to agree on price.
The personal equity group manages the Formula One motor racing business.
Sky Bet will stay in Leeds with all personnel relocating to the brand-new entity.
The service created net profits of ₤ 182m in the year to June 30 and pre-tax revenues of ₤ 50m.
Sky has struck a long-lasting brand licence contract with Sky Bet.
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