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Bet365 boss Denise Coates gets ₤ 300m pay bundle - a ₤ 170m cut

3 March 2022

ByRussell Hotten
BBC News

Bet365 boss Denise Coates took home about ₤ 300m during its last financial year - ₤ 170m down on the previous year - as growth stalled.

The billionaire founder of the online gaming firm got ₤ 250m in wage and a share of the business's pay-out of ₤ 97.5 m in dividends.

Ms Coates, among Britain's most affluent females and a major benefactor, has actually gotten a total of about ₤ 1.3 bn from the service in the previous 5 years.

Bet365 was developed 21 years earlier.

Ms Coates and her brother John took over a wagering store business run by their father, identifying that might change the industry. She now owns about half of the company.

Bet365's newest accounts filed at Companies House show earnings 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 called in the yohaig code accounts, Ms Coates has actually constantly been regarded as the individual described as "highest paid director". She is believed to be Britain's biggest specific tax payer.

It's uncertain why the pay fell a lot, although Bet365's earnings from sports betting was struck as the pandemic caused chaos to sporting schedules. An increase in wagering by means of online slot makers and casinos helped offset the loss.

Bet365 stated: "At the start of the period we experienced the practically total cessation of sporting occasions. However by the end of the very first half of the year, we saw the resumption of sports with the vast bulk 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 company stated was driven in large part by reduced pay packages for directors.

Bet365 made charitable donations, primarily to the Denise Coates Foundation, of ₤ 103m, up from practically ₤ 90m the yohaig code year before.

Ms Coates accomplished a first-class degree in econometrics and later on trained as an accounting professional within the family company.

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