Bet365 Boss Earns ₤ 469m in A Single Year

Bet365 manager makes ₤ 469m in a single year

1 April 2021

In charge of the gambling firm Bet365 has been awarded among the biggest pay packages in UK business history.

The greatest paid director of Bet365 Group - believed to be founder and majority investor Denise Coates CBE - made a salary of ₤ 421m in the year ending 29 March.

She also earned ₤ 48m in dividends, taking her total pay to ₤ 469m.

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The business said the plans were "proper and fair", despite sales falling at the company last year.

But project group the High Pay Centre said it was "appallingly inefficient for single individuals to hoard wealth in this promotion code way".

Ms Coates, who established the Bet365 site 20 years earlier in Stoke-on-Trent, has been the UK's greatest paid employer for several years.

She is likewise one of Britain's most affluent females and a major philanthropist, contributing millions through the Denise Coates Foundation.

Her salary in the year to March was more than 50% higher than the ₤ 277m gotten in 2019 and implied she earned almost ₤ 1.2 m every day in 2015.

That was more than the managers of every FTSE 100 business integrated, according to the High Pay Centre.

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

However, the business stated it had not cut staff pay or laid off staff members as an outcome of the crisis. It also did not make use of the furlough scheme.

The business likewise paid ₤ 85m to Ms Coates's charitable foundation.

Ms Coates and her brother John took over the gaming business twenty years earlier, which was run by their dad. Ms Coates now owns about half of the business.

She has actually previously been explained as one of the UK's "most successful women".

Ms Coates attained a superior degree in econometrics and later on trained as an accounting professional within the family firm, building further on the knowledge of the then small chain that she got while working part-time during high school.

The president's annual pay package is most likely to be the 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.