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Bet365 Boss Denise Coates Gets ₤ 300m Pay Package – A ₤ 170m Cut

Bet365 boss Denise Coates gets ₤ 300m pay package – a ₤ 170m cut

3 March 2022

ByRussell Hotten
BBC News

Bet365 manager Denise Coates took home about ₤ 300m during its last year – ₤ 170m down on the previous year – as growth stalled.

The billionaire founder of the online betting firm received ₤ 250m in salary and a share of the company’s pay-out of ₤ 97.5 m in dividends.

Ms Coates, one of Britain’s most affluent ladies and a significant philanthropist, has actually gotten a total of about ₤ 1.3 bn from the business in the past 5 years.

Bet365 was developed 21 years ago.

Ms Coates and her brother John took over a wagering shop company run by their father, identifying that online betting could change the industry. She now owns about half of the business.

Bet365’s newest accounts submitted at Companies House show earnings were broadly flat at ₤ 2.82 bn in the first year of the pandemic, compared to ₤ 2.81 bn in the previous year.

Although not named in the accounts, Ms Coates has always been considered the person referred to as “greatest paid director”. She is believed to be Britain’s greatest specific tax payer.

It’s uncertain why the pay fell a lot, although Bet365’s earnings from sports betting was struck as the pandemic triggered mayhem to sporting schedules. An increase in wagering through online slots and casinos assisted offset the loss.

Bet365 stated: “At the start of the duration we experienced the practically total cessation of sporting occasions. However by the yohaig code end of the very first half of the year, we saw the resumption of sports with the vast majority of European football leagues handling to conclude their domestic seasons.”

Meanwhile, operating revenue increased by 47% year-on-year to ₤ 285.5 m, a gain the firm said was driven in big part by minimized pay packets for directors.

Bet365 made charitable donations, mainly to the Denise Coates Foundation, of ₤ 103m, up from almost ₤ 90m the yohaig code year before.

Ms Coates attained a superior degree in econometrics and later on trained as an accountant within the family company.

The business owns Stoke City football club, and is based in Stoke-on-Trent.