Bet365 boss Denise Coates gets ₤ 300m pay bundle - 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 yohaig code online gaming company 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 ladies and a significant benefactor, has gotten a total of about ₤ 1.3 bn from the organization in the past 5 years.

Bet365 was produced 21 years earlier.

Ms Coates and her bro John took control of a betting store business run by their dad, finding that online gaming could revolutionise the market. She now owns about half of the company.

Bet365's newest 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 named in the accounts, Ms Coates has constantly been related to as the individual referred to as "greatest paid director". She is believed to be Britain's most significant specific tax payer.

It's uncertain why the pay fell so much, although Bet365's incomes from sports betting was struck as the pandemic triggered chaos to sporting schedules. An increase in betting via online slot machines and gambling establishments assisted balance out the loss.

Bet365 stated: "At the start of the duration we experienced the nearly complete cessation of sporting occasions. However by the end of the first half of the year, we saw the resumption of sports with the huge majority 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 stated was driven in big part by minimized pay packets for directors.

Bet365 made charitable contributions, mainly to the yohaig code Denise Coates Foundation, of ₤ 103m, up from nearly ₤ 90m the year before.

Ms Coates attained a first-class degree in econometrics and later trained as an accountant within the family company.

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