Bet365 Boss Pay Package Rises to £280m
Denise Coates, the founder and CEO of Bet365, has seen her pay package skyrocket to at least £280 million in 2025, securing her position as one of Britain’s highest-paid executives. This substantial earnings increase of over two-thirds from nearly £158 million last year comes despite a significant drop in the company’s profits.
Key Figures from Bet365’s Financials
– Total Pay Package: £280 million
– Salary: £104 million for the year ending March 2025
– Dividends: Coates received at least half of the £354 million dividend declared by the firm
– Profits: Pre-tax profits fell to £339 million, down from £596 million
– Overall Revenue: Increased by 9%, from £3.7 billion to £4 billion
Despite the decline in profits, Coates has now earned more than £2 billion from Bet365 over the past decade. The news of her compensation has drawn criticism, particularly from the campaign group High Pay Centre.
Reactions to Her Earnings
Director Andrew Speke highlighted the community’s mixed feelings:
– “Denise Coates is well-liked in Stoke for being self-made and giving back to her community.
– However, the eye-watering sums she earns far exceed what anyone needs for a life of luxury, especially considering the harm the gambling industry can cause.”
A Legacy Built from Humble Beginnings
Denise Coates launched Bet365 over 20 years ago from a portable building in a Stoke-on-Trent car park. Today, it stands as the largest private sector employer in the city, providing sports betting, poker, casino games, and bingo online to millions worldwide.
– Background: Coates trained as an accountant and leveraged her experience to grow Bet365 from her father’s bookmaking business.
– Family Involvement: Her brother, John Coates, serves as co-CEO.
Economic Contributions
Beyond her role as one of the UK’s most lucrative bosses, Coates is also among the country’s largest taxpayers. Her £104 million salary would contribute tens of millions in income tax and national insurance. Furthermore, Bet365 reported paying £482 million in taxes during the year to March, an increase from £364 million the previous year, which includes taxes on dividend payments.
Charitable Efforts
In addition to her business successes, Bet365 made a significant donation of £130 million to the Denise Coates Foundation, supporting charities focused on education, arts, culture, and health.
In conclusion, while Denise Coates’s pay package from Bet365 has stirred controversy, it underscores both her remarkable journey in the gambling industry and her substantial economic contributions. The discussions surrounding her compensation reflect the broader conversations about wages, societal impact, and the dynamics of the gambling sector.