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Bet365 Boss is Britain’s highest paid executive

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Bet365 Boss is Britain's highest paid executive

The co-founder and boss of online gambling firm Bet365, Denise Coates, received 323 million pounds (US$411 million) in 2018, confirming her as Britain’s highest paid executive, the company’s accounts showed.

Coates, Bet365’s joint group CEO, saw her salary rise to 276.6 million pounds in the 53 weeks to March 31 2019 from 220 million pounds in the previous year.

The firm paid out 92.5 million pounds in dividends. Media reports said Coates, 52, received half of this as she owns about half of Bet365’s equity.

The privately held Bet365 is jointly owned by Denise Coates and members of her family, including brother John, the joint CEO, and father Peter, who chairs the firm.

The group’s revenue rose 7per cent to 3.06 billion pounds, while operating profit was up 15per cent to 758.3 million pounds, reflecting the growing popularity of online betting. Amounts wagered on sports and the number of active customers both increased 23per cent.

Bet365 also owns soccer club Stoke City, which made a loss of 8.7 million pounds following its relegation to the second tier Championship in the 2017-18 season.

About Bet365

Bet365 Group Ltd is a British online gambling company based in the United Kingdom. They have more than 35 million customers globally. The Group employs around 4300 people.

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