Bet365 manager Denise Coates gets ₤ 300m pay bundle - a ₤ 170m cut

3 March 2022

ByRussell Hotten
BBC News

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

The billionaire founder of the online gambling company received ₤ 250m in salary and a share of the business's pay-out of ₤ 97.5 m in dividends.

Ms Coates, one of Britain's most affluent females and a major philanthropist, has actually received a total of about ₤ 1.3 bn from the service in the previous five years.

Bet365 was created 21 years earlier.

Ms Coates and her bro John took control of a wagering store company run by their daddy, finding that online gaming could change the industry. She now owns about half of the business.

Bet365's newest accounts filed at Companies House reveal profits were broadly flat at ₤ 2.82 bn in the very first year of the pandemic, compared to ₤ 2.81 bn in the previous year.

Although not named in the accounts, Ms Coates has constantly been considered the individual described as "highest paid director". She is believed to be Britain's biggest private tax payer.

It's uncertain why the pay fell so much, although Bet365's profits from sports wagering was hit as the pandemic triggered turmoil to sporting schedules. An increase in betting by means of online fruit machine and gambling establishments helped offset the loss.

Bet365 stated: "At the start of the duration we experienced the nearly total cessation of sporting occasions. However by the end of the yohaig code very first half of the year, we saw the resumption of sports with the large bulk 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 large part by reduced pay packages for directors.

Bet365 made charitable contributions, primarily to the Denise Coates Foundation, of ₤ 103m, up from practically ₤ 90m the year before.

Ms Coates achieved a top-notch degree in econometrics and later trained as an accounting professional within the household firm.

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