Denise Coates, the prominent figure behind Bet365, has recently received an impressive windfall of £260 million, bringing her total earnings over the past 15 years to £2.7 billion. This substantial sum solidifies her position as one of the highest-paid executives in the UK and the top-paid woman in the country.
The latest financial reports for her family’s gambling enterprise reveal that Coates received a salary of £104 million, a notable increase from £94.7 million in the previous year. Additionally, Bet365 Group distributed £313.6 million in cash dividends to family shareholders, with a significant portion allocated to Coates due to her substantial ownership stake in the company.
Although the £260 million windfall is slightly lower than her record-breaking £469 million in 2021, it still surpasses the earnings of other prominent corporate leaders in the UK. Notable examples include Eamonn O’Hare of Zegona, who earned £131 million, Pascal Soriot of AstraZeneca with a pay packet of £14.7 million, and Peter Dilnot of Melrose Industries, who received £45.5 million in pay and bonuses.
The windfall further boosts the wealth of the Coates family, who were ranked as the 16th richest individuals in Britain according to the latest Sunday Times Rich List, with an estimated fortune of £9.44 billion. Coates, known for her aversion to public attention, founded Bet365 in a humble setting in 2000 and has since overseen its remarkable growth.
The family’s financial contributions extend beyond personal wealth, as the group disclosed substantial charitable donations to the Denise Coates Foundation, totaling £130 million in the past year. The Foundation has supported various institutions, including The University Hospitals of North Midlands Charity, which received significant grants for essential medical equipment.
Bet365 reported a revenue increase of 9% to over £4 billion in the fiscal year ending in March, although its pre-tax profit nearly halved to £348.7 million. The company’s accounts do not reflect the recent rise in online gambling taxes announced in the latest Budget, aimed at addressing concerns related to problem gambling and child poverty.
Emphasizing its commitment to customer safety, Bet365 stated in its financial disclosures that it remains dedicated to providing a secure gambling environment and actively collaborates with regulators and industry peers to promote responsible gambling practices.