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

3 March 2022

ByRussell Hotten
BBC News

Bet365 employer Denise Coates took home about ₤ 300m throughout its last fiscal year - ₤ 170m down on the previous year - as development stalled.

The billionaire creator of the online betting company got ₤ 250m in income and a share of the business's pay-out of ₤ 97.5 m in dividends.

Ms Coates, one of Britain's wealthiest ladies and a major philanthropist, has gotten an overall of about ₤ 1.3 bn from business in the previous five years.

Bet365 was created 21 years ago.

Ms Coates and her brother John took over a wagering shop business run by their daddy, finding that online gambling could revolutionise the industry. She now owns about half of the company.

Bet365's latest accounts filed at Companies House show incomes were broadly flat at ₤ 2.82 bn in the very first year of the pandemic, compared with ₤ 2.81 bn in the previous year.

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

It's uncertain why the pay fell a lot, although Bet365's earnings from sports betting was struck as the pandemic triggered turmoil to sporting schedules. An increase in wagering through online slot machines and casinos helped offset the loss.

Bet365 stated: "At the start of the duration we experienced the practically complete cessation of sporting events. However by the end of the very first half of the year, we saw the resumption of sports with the large majority of European football leagues managing to conclude their domestic seasons."

Meanwhile, operating earnings increased by 47% year-on-year to ₤ 285.5 m, a gain the firm said was driven in big part by minimized 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 accomplished a top-notch degree in econometrics and later trained as an accounting professional within the yohaig code household firm.

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