Britain’s ‘best paid woman’ Bet365 boss Denise Coates takes home £150m in salary and dividends despite pay cut.
Britain’s richest woman pocketed an estimated £150 million last year from her family’s gambling business, taking her earnings over the last seven years to more than £2 billion.
Denise Coates, the boss of Bet365, is believed to have received a salary of nearly £95 million from the firm for the year to March 2024, according to recently filed accounts.
Bet365 said the salary payments had been made to its highest-paid director, which is understood to be Coates who serves as its chief executive
She is also entitled to at least half of the £110 million in dividends paid out during the year, taking her total haul for the period to £150 million.
Coates, 57, is famous for her record-breaking pay packets, which over the last decade have amounted to around £2.4 billion.
The latest payout came as Stoke-on-Trent-based Bet365 reported a profit of £596 million for 2024, a massive swing from the £73 million loss it delivered the previous year.
But despite the bumper profit, Coates’ pay packet was sharply reduced from 2023, when she took home an estimated £271 million.
It is also well below the record-breaking £469 million she received in 2020 when people turned to online gambling to alleviate boredom while stuck in lockdown during the Covid-19 pandemic, sparking a boom in demand.
Denise Coates (pictured), the boss of Bet365, is believed to have received a salary of nearly £95 million from the firm for the year to March 2024
Denise Coates (pictured), the boss of Bet365, is believed to have received a salary of nearly £95 million from the firm for the year to March 2024
Bet365 boss Denise Coates, 53, increased her salary by 45 per cent, taking her total earnings since 2016 to £1.3 billion. Pictured, in 2012 Mrs Coates was awarded a CBE
Bet365 boss Denise Coates, 53, increased her salary by 45 per cent, taking her total earnings since 2016 to £1.3 billion. Pictured, in 2012 Mrs Coates was awarded a CBE
The latest payout came as Stoke-on-Trent-based Bet365 reported a profit of £596 million for 2024
The latest payout came as Stoke-on-Trent-based Bet365 reported a profit of £596 million for 2024
Coates¿ pay packet was sharply reduced from 2023, when she took home an estimated £271 million
Coates¿ pay packet was sharply reduced from 2023, when she took home an estimated £271 million
Denise Coates recently finally finished work on her £90m space-age mansion in Cheshire.
Denise Coates recently finally finished work on her £90m space-age mansion in Cheshire
At the time, the mammoth pay award sparked outrage from critics of excessive executive pay and the wider gambling sector.
Bet365 tycoon Denise Coates finally finishes work on her sprawling space-age £90m mansion after spending £5m buying up neighbours’ land
Coates set up Bet365 in 2000 from a car park and is credited with creating thousands of jobs in Stoke-on-Trent, where it employs more than 8,500 people.
It remains a family business with her brother John Coates serving as joint chief executive as well as a major shareholder.
The Coates family also control Stoke City Football Club, which has its home ground at the Bet365 stadium.
But despite a positive reputation in its hometown, Bet365 has faced intense scrutiny over its practices as well as its ties to the government.
In October, it emerged that Prime Minister Kier Starmer had received a £25,000 donation in 2020 from Coates’ father Peter, the chairman of Bet365, to support his campaign for leadership of the Labour Party.
Last April, the company was also fined £582,000 by the Gambling Commission for failing to protect vulnerable customers as well as prevent potential money laundering, although gambling addiction support groups blasted the fine as being tiny compared to the multiple millions paid out to Coates every year.
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