Bet365 CEO Denise Coates Receives Over 314 Million Euros Yearly Salary

Despite Losses, Coates Earns Record Salary at Bet365

According to a report by The Guardian, Denise Coates received a salary increase of 8.1 million euros compared to the previous year. As the majority shareholder of Bet365, she is entitled to at least 50% of the 100 million GBP dividend paid out in 2023. With a private fortune of over 14 billion euros, Coates is one of the wealthiest women in the UK. Luke Hildyard, Director of the High Pay Centre in the UK, raised concerns about such high manager salaries, emphasizing the need for wealth distribution in the country.

Bet365 Records a Loss of Over 69 Million Euros in 2023

Despite increased revenue from sports betting and online casino games, Bet365 suffered a loss of more than 69 million euros in 2023, attributed to a general increase in company-wide costs and a fraud of over 274,000 euros by an English syndicate. However, the company saw a 29% increase in the number of customers in 2023 compared to the previous year. Coates plans for further improvements on the Bet365 platform in 2024.

Coates Transforms Betting Shop into Global Gambling Giant

Denise Coates transformed her father’s betting shop into one of the world’s largest gambling companies. Purchasing the current Bet365 domain for 23,000 euros in 2000, she turned it into a global gambling powerhouse and the largest private employer in Stoke-on-Trent, UK. The Coates family, one of the richest in the UK, has also been involved in social and charitable ventures, with Denise Coates donating 11.6 million euros to the UK’s National Health Service in 2020 to combat the COVID-19 pandemic.