German sports betting firm Tipico sniffs around for potential buyers

Owners of German sports betting firm Tipico are eyeing potential buyers—Amaya in particular—for the company.

The four owners of Tipico have already instructed J.P. Morgan and Rothschild to look for options for the company including a possible sale, The Wall Street Journal reported, quoting sources familiar with the matter.

According to the report, the owners are hoping Tipico’s growth will attract firms such as Amaya Inc., 888 Holdings PLC and even William Hill. The sources believe Tipico will fetch between €1 billion ($1.12 billion) to €1.5 billion ($1.69 billion), in case of a sale.

Founded in 2004, Tipico offers in-store and online sports bets as well as casino games. The company is considered as Germany’s largest private sports betting company with an estimated €500 million in net revenue.