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Bet365, which oversees sports betting, gaming operations, and owns Stoke City Football Club, reported a pretax profit of £596 million for the year, with turnover rising by 9% to £3.7 billion.
Updated : Jan 09, 2025, 01:00 PM IST
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Denise Coates, the billionaire founder of Bet365 and the UK’s highest-paid woman, received a total of £150 million in salary and dividends last year, despite a 45% reduction in her pay. This comes as Bet365 reported a notable increase in profits, according to The Guardian.
Documents filed with Companies House revealed that Bet365’s highest-paid director, believed to be Coates, earned £158.7 million in total compensation for the year. This represents a significant drop from her 2023 earnings of £270 million, which included both salary and dividend payouts.
For the financial year ending in March 2024, Coates reportedly received a salary of £94.7 million, along with £64 million in dividends from her 58% ownership stake in Bet365. Her brother and co-CEO, John Coates, also shared in the £110 million dividend payout, according to Fortune.
Bet365, which oversees sports betting, gaming operations, and owns Stoke City Football Club, reported a pretax profit of £596 million for the year, with turnover rising by 9% to £3.7 billion.
With her family’s wealth estimated at nearly £8 billion, according to the Sunday Times Rich List, Denise Coates has consistently ranked among Britain’s top-paid executives. In 2020, she made headlines for a record-breaking £466 million pay package, driven by surging revenues during the pandemic, followed by £300 million in 2021.
Coates' rise to success began in 2000 when she made a bold decision to mortgage her father’s betting shops to establish an online gambling platform with her brother.
Even with the decline in her earnings, Coates’ pay remains significantly higher than that of many global CEOs. For comparison, Apple CEO Tim Cook earned $63.2 million in 2023—only a third of Coates' total compensation for the same year.
