Wednesday 18 September 2019

Bet365 boss in €298m payday

Denise Coates, the billionaire boss of Bet365, is celebrating a £265m (€298m) payday as the betting firm reported another year of bumper profits. (Alex Severn/Bet 365/PA)
Denise Coates, the billionaire boss of Bet365, is celebrating a £265m (€298m) payday as the betting firm reported another year of bumper profits. (Alex Severn/Bet 365/PA)

Denise Coates, the billionaire boss of Bet365, is celebrating a £265m (€298m) payday as the betting firm reported another year of bumper profits.

New accounts filed this week show that Ms Coates was paid £220m (€247m) in 2018, as well as half of a £90m (€101m) dividend, making her one of the highest-paid executives in the world.

The payout beats the £220m she raked in last year, when she was the UK's highest-paid director.

A regular on rich lists, Ms Coates founded Bet365 in a car park in 2000 and has since grown it into a betting titan.

Alongside her brother and father, John and Peter, who are also directors at Bet365, the family boasts an estimated fortune of £5.8bn. Ms Coates, John, Peter and finance director Will Roseff shared a total of £321.6m last year, the Bet365 figures show.

Total director and manager salaries ballooned from £321.9m to £448.6m.

Bet365 posted a 28pc rise in pre-tax profit to £660.6m in the year to March on turnover of £2.9bn.

The group, which is headquartered in Stoke, employs around 4,300 staff.

The firm also owns Stoke City and the accounts, filed at Companies House, show that the football club, relegated from the Premier League in May, suffered a £21m loss last year.

PA Media

Also in Business