Bet365 manager earns ₤ 469m in a single year

1 April 2021

The one in charge of the betting firm Bet365 has actually been granted one of the biggest pay packages in UK business history.

The greatest paid director of Bet365 Group - believed to be creator and bulk shareholder Denise Coates CBE - earned a salary of ₤ 421m in the year ending 29 March.

She likewise made ₤ 48m in dividends, taking her total pay to ₤ 469m.

The company stated the plans were "proper and fair", regardless of sales falling at the company in 2015.

But project group the High Pay Centre stated it was "appallingly ineffective for single people to hoard wealth in this promotion code way".

Ms Coates, who founded the Bet365 website twenty years back in Stoke-on-Trent, has been the UK's greatest paid employer for several years.

She is also among Britain's wealthiest women and a major philanthropist, contributing millions through the Denise Coates Foundation.

Her salary in the year to March was more than 50% greater than the ₤ 277m received in 2019 and suggested she earned nearly ₤ 1.2 m every day in 2015.

That was more than the one in charges of every FTSE 100 business combined, according to the yohaig code High Pay Centre.

It came as sales at Bet365 fell 8% to ₤ 2.8 bn as international sporting events were cancelled due to the pandemic. Profits plunged 74% to ₤ 194.7 m.

However, the business stated it had not cut personnel pay or laid off workers as a result of the crisis. It likewise did not use the furlough scheme.

The company also paid ₤ 85m to Ms Coates's charitable structure.

Ms Coates and her brother John took over the gambling organization 20 years ago, which was run by their daddy. Ms Coates now owns about half of the company.

She has formerly been described as among the UK's "most successful ladies".

Ms Coates attained a top-notch degree in econometrics and later trained as an accountant within the family firm, building further on the understanding of the then small chain that she picked up while working part-time during high school.

The primary executive's yearly pay packet is likely to be the yohaig code most significant in UK history. Earlier this promotion code month, hedge fund magnate Sir Chris Hohn staked a claim to that title after paying himself ₤ 343m in 2015.

How Bet365's Denise Coates hit her own prize

18 December 2019