Bet365 Boss Earns ₤ 469m in A Single Year

Bet365 boss earns ₤ 469m in a single year


1 April 2021


The one in charge of the gambling firm Bet365 has been awarded among the most significant pay packets in UK corporate history.


The highest paid director of Bet365 Group - thought to be creator and majority shareholder Denise Coates CBE - earned an income of ₤ 421m in the year ending 29 March.


She likewise earned ₤ 48m in dividends, taking her total pay to ₤ 469m.


The business said the plans were "suitable and reasonable", in spite of sales falling at the company last year.


But project group the High Pay Centre stated it was "appallingly ineffective for single people to hoard wealth in this method".


Ms Coates, who established the Bet365 website 20 years ago in Stoke-on-Trent, has actually been the UK's greatest paid boss for several years.


She is also among Britain's most affluent women and a major philanthropist, donating millions through the Denise Coates Foundation.


Her salary in the year to March was more than 50% higher than the ₤ 277m received in 2019 and implied she made nearly ₤ 1.2 m every day in 2015.


That was more than the bosses of every FTSE 100 company combined, according to the High Pay Centre.


It came as sales at Bet365 fell 8% to ₤ 2.8 bn as global sporting occasions were cancelled due to the pandemic. Profits slumped 74% to ₤ 194.7 m.


However, the business stated it had not cut personnel pay or laid off staff members as a result of the crisis. It likewise did not make use of the furlough plan.


The company also paid ₤ 85m to Ms Coates's charitable structure.


Ms Coates and her brother John took control of the gambling organization 20 years earlier, which was run by their father. Ms Coates now owns about half of the company.


She has previously been described as one of the UK's "most effective females".