Denise Coates, the prominent figure behind Bet365, has gained an additional £260 million windfall, bringing her total earnings over the past 15 years to £2.7 billion. This significant payout solidifies her status as one of the highest-paid executives in the UK and the highest-paid female executive.
Recent financial reports of her family’s gambling business reveal that Denise Coates received a salary of £104 million, marking an increase from £94.7 million in the previous year. Bet365 Group also distributed a substantial amount of cash dividends to family stakeholders, totaling £313.6 million, with a significant portion destined for Ms. Coates due to her majority ownership.
While the £260 million windfall is slightly lower than her previous record of £469 million in 2021, it still surpasses the earnings of other top executives in the UK. Notable figures like Eamonn O’Hare and Pascal Soriot earned considerably less in comparison.
The windfall will further boost the Coates family’s wealth, as they were ranked the 16th richest in Britain according to the latest Sunday Times Rich List, with an estimated fortune of £9.44 billion. Denise Coates founded Bet365 in 2000 and has since seen tremendous success in the online gambling industry.
The Coates family is also recognized for their substantial tax contributions, with the group’s total tax payment to the UK Exchequer reaching £481.5 million, a notable increase from the previous year. Additionally, significant charitable donations were made through the Denise Coates Foundation, totaling £130 million in the past year.
The Foundation supported various institutions, including The University Hospitals of North Midlands Charity, which received substantial grants for essential medical equipment. Stoke City football club, formerly owned by the Coates family, saw a change in ownership last year, resulting in financial adjustments for the club.
Bet365 reported a revenue increase of 9% to over £4 billion in the last fiscal year, although its pre-tax profit nearly halved to £348.7 million. The company faces challenges due to recent tax hikes on online gambling, aimed at addressing problem gambling and supporting social causes.
Bet365 emphasizes its commitment to providing a safe gambling environment for customers and ongoing investments in responsible gambling practices. The company collaborates with regulators and industry partners to promote safer gambling practices both domestically and internationally.