Denise Coates, the prominent figure behind Bet365, has recently added another £260 million to her impressive earnings, bringing her total payouts over the last 15 years to £2.7 billion. This substantial windfall solidifies her position as one of the highest-paid executives in the UK, particularly among women.
According to the latest financial reports of her family’s gambling business, Coates received a salary of £104 million in the past year, marking an increase from £94.7 million in the previous year. Additionally, Bet365 Group significantly raised cash dividends to family shareholders, reaching £313.6 million, with a significant portion destined for Coates due to her substantial ownership stake in the company.
While the £260 million payout is slightly lower than her record-breaking £469 million in 2021, it still surpasses the earnings of many other top executives in the UK. Notable figures like Eamonn O’Hare, Pascal Soriot of AstraZeneca, and Peter Dilnot of Melrose Industries earned considerably less in comparison.
The windfall is expected to boost the already substantial wealth of the Coates family, who were ranked as the 16th richest in Britain according to the latest Sunday Times Rich List. Denise Coates, known for her low profile, founded Bet365 in 2000 in Stoke on Trent, starting from a modest portable cabin.
The family’s charitable contributions through the Denise Coates Foundation also saw a significant increase, with £130 million donated last year. The Foundation made multiple donations to various institutions, including the University Hospitals of North Midlands Charity, which received substantial grants for essential medical equipment.
Furthermore, Bet365’s financial performance in the past year showcased a 9% increase in revenue, surpassing £4 billion, although its pre-tax profit declined to £348.7 million. The company emphasized its commitment to promoting responsible gambling practices and ensuring a safe environment for its customers amid regulatory changes in the industry.
The accounts do not reflect the recent increase in online gambling taxes announced in the latest Budget, indicating potential future impacts on the company’s financial performance. Bet365 remains dedicated to collaborating with regulators and industry counterparts to uphold the highest standards of safer gambling practices.