Denise Coates, the prominent figure behind Bet365, has recently received a substantial windfall of £260 million, bringing her total earnings over the past 15 years to a staggering £2.7 billion. This significant payout further solidifies her position as one of the highest-paid executives in the UK and the top-earning woman in the country.
According to newly disclosed financial reports of her family’s gambling enterprise, Coates pocketed a salary of £104 million, marking a notable increase from £94.7 million in the previous year. Additionally, Bet365 Group boosted the cash dividends to family shareholders to £313.6 million, with Coates, aged 58, set to receive a substantial portion due to her majority ownership in the company.
While the £260 million windfall is slightly lower than her record-breaking £469 million in 2021, it still surpasses the earnings of other prominent business leaders in the UK. Noteworthy figures include Eamonn O’Hare of Zegona, who earned £131 million, AstraZeneca’s Pascal Soriot with a £14.7 million pay package, and Peter Dilnot of Melrose Industries, who received £45.5 million in pay and bonuses.
The latest windfall is expected to boost the wealth of the Coates family, who were ranked as the 16th richest in Britain with an estimated wealth of £9.44 billion on the Sunday Times Rich List. Coates, known for her low profile, founded Bet365 in a modest setting in Stoke on Trent in 2000, and has since seen immense success in the online gambling industry.
The family is known for their substantial tax contributions, with the group’s total tax payment to the UK Exchequer amounting to £481.5 million, a significant increase from the previous year’s £364 million. Moreover, significant charitable donations totaling £130 million were made to the Denise Coates Foundation, benefiting various institutions, including The University Hospitals of North Midlands Charity.
Bet365 reported a 9% revenue increase to over £4 billion, but pre-tax profits nearly halved to £348.7 million for the year ending in March. The financial statements do not reflect the impact of recent online gambling tax hikes announced in the Budget by Chancellor Rachel Reeves, signaling a shift towards addressing problem gambling and supporting initiatives to combat child poverty.
Emphasizing their commitment to customer safety, Bet365 reiterated their dedication to providing a secure gambling environment and ongoing investments in promoting responsible gambling practices in collaboration with regulators and industry partners.