Denise Coates, the prominent figure behind Bet365, has recently received a substantial windfall of £260 million, bringing her total payouts over the last 15 years to £2.7 billion. This significant sum solidifies her position as one of the highest-paid executives in the UK and the highest-paid female executive. Her family’s gambling business, as per the latest financial reports, saw her receive a salary of £104 million, up from £94.7 million in the previous year. Additionally, Bet365 Group tripled cash dividends to family shareholders, amounting to £313.6 million last year, with a significant portion going to Ms. Coates due to her majority ownership.
Although the £260 million windfall is slightly less than her record-breaking £469 million in 2021, it remains unparalleled compared to other executive compensations in the UK. Notable figures like Eamonn O’Hare from Zegona earned £131 million, AstraZeneca’s Pascal Soriot received £14.7 million, and Melrose Industries’ Peter Dilnot garnered £45.5 million in the same period.
The Coates family’s wealth, estimated at £9.44 billion according to the latest Sunday Times Rich List, ranks them as the 16th richest individuals in Britain. Denise Coates, known for her low profile, established Bet365 in a modest setting in 2000 and has since seen remarkable success in the online gambling industry.
The family, whose tax contributions to the UK Exchequer totaled £481.5 million, also demonstrated philanthropic efforts through the Denise Coates Foundation, with £130 million donated last year. The Foundation supported various institutions, including The University Hospitals of North Midlands Charity, receiving substantial grants for essential medical equipment.
Furthermore, Bet365’s financial performance showed a revenue increase of 9% to over £4 billion, though its pre-tax profit nearly halved to £348.7 million. Despite challenges such as increased online gambling taxes, the company remains dedicated to ensuring a safe gambling environment for its customers.
Stoke City football club, formerly owned by the Coates family, underwent changes in ownership, now led by Ms. Coates’ brother. The financial reports do not reflect the recent tax changes impacting the online gambling sector, emphasizing the company’s commitment to responsible gambling practices and cooperation with regulatory bodies.