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

3 March 2022

ByRussell Hotten
BBC News

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

The billionaire creator of the online gaming firm got ₤ 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 benefactor, has actually received a total of about ₤ 1.3 bn from the business in the yohaig code previous five years.

Bet365 was developed 21 years earlier.

Ms Coates and her bro John took over a betting shop business run by their father, finding that online betting might change the market. She now owns about half of the company.

Bet365's latest accounts filed at Companies House reveal 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 actually constantly been related to as the individual referred to as "highest 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 profits from sports wagering was hit as the pandemic triggered mayhem to sporting schedules. An increase in betting by means of online slots and gambling establishments helped offset the yohaig code loss.

Bet365 stated: "At the start of the duration we experienced the almost complete cessation of sporting occasions. However by the 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 earnings increased by 47% year-on-year to ₤ 285.5 m, a gain the firm stated was driven in big part by decreased pay packets for directors.

Bet365 made charitable contributions, mainly 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 company.

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