Gambling tycoon Denise Coates has received a substantial windfall of £260 million, adding to her total payouts of £2.7 billion over the last 15 years. As the leader of Bet365, she solidified her position as one of the highest-paid executives in the UK, including the highest-paid woman, through this recent boardroom reward.
Recent financial reports for her family’s gambling enterprise reveal a significant increase in Coates’ salary alone, reaching £104 million compared to £94.7 million in the previous year. Bet365 Group also distributed triple the amount of cash dividends to family stakeholders, totaling £313.6 million, with Coates, 58, entitled to a substantial portion due to her majority ownership.
Although the £260 million windfall is slightly lower than her record-breaking £469 million in 2021, it still surpasses the earnings of other prominent UK executives. Eamonn O’Hare of Zegona received £131 million in the same period, while AstraZeneca’s Pascal Soriot earned £14.7 million and Melrose Industries’ Peter Dilnot received £45.5 million in pay and bonuses.
This windfall further boosts the Coates family’s wealth, which was estimated at £9.44 billion in the latest Sunday Times Rich List, ranking them 16th among Britain’s wealthiest individuals. Coates, known for her low profile, founded Bet365 in a modest setting in 2000, expanding it into a thriving business.
The Coates family also contributes significantly to the UK tax system, with the group’s total tax payment amounting to £481.5 million, up from £364 million in the preceding year. Additionally, substantial charitable donations totaling £130 million were made to the Denise Coates Foundation last year, benefitting various institutions and causes.
Stoke City football club, once owned by the Coates family, underwent a change in ownership last year. Bet365 reported a revenue increase of 9% to over £4 billion in the fiscal year, although pre-tax profit nearly halved to £348.7 million. The company remains committed to providing a safe gambling environment for its customers amidst regulatory changes and industry standards.