Bet365 Boss Denise Coates Gets ₤ 300m Pay Package

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

3 March 2022

Bet365 boss Denise Coates took home about ₤ 300m during its last financial year - ₤ 170m down on the previous year - as development stalled.

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

Ms Coates, among Britain's wealthiest ladies and a significant benefactor, has actually gotten a total of about ₤ 1.3 bn from the business in the previous five years.

Bet365 was developed 21 years earlier.

Ms Coates and her brother John took control of a betting store organization run by their father, finding that online gaming could revolutionise the industry. She now owns about half of the company.

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

Although not named in the accounts, Ms Coates has constantly been considered as the person described as "greatest paid director". She is thought to be Britain's most significant specific tax payer.

It's unclear why the pay fell so much, although Bet365's profits from sports wagering was struck as the pandemic caused chaos to sporting schedules. An increase in betting through online slot makers and casinos helped balance out the loss.

Bet365 said: "At the start of the duration we experienced the practically total cessation of sporting events. However by the end of the very first half of the year, we saw the resumption of sports with the huge bulk of European football leagues managing 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 decreased pay packages for directors.