Belgian sports betting firm Betfirst Group is likely to be put up for sale after parent media organisation Sagevas SA asked Rothschild Bank to investigate options for the company.

Sagevas’ investors, driven by founding shareholder IPM group, have agreed to ‘examine the strategic options’ for the bookmaking operation, with a sale to a third party a likely outcome.

Betfirst received Belgium’s first online sports betting operator’s licence in 2012, supplementing its land-based business, and is one of the country’s top three bookmakers along with Unibet and Bwin.

Investment bank Rothschild has reportedly already met with several interested parties and indicated that there have been no decisions made yet.