Denise Coates, the leading figure behind Bet365, has received a hefty windfall of £260 million, bringing her total earnings to £2.7 billion over the last 15 years. This recent payout solidifies her status as one of the highest-paid executives in the UK and the top-earning woman in the country.
According to the latest financial reports of the Coates family’s gambling business, Denise Coates herself received a substantial salary of £104 million, marking a significant increase from the previous year’s £94.7 million. Additionally, Bet365 Group more than tripled the cash dividends distributed to family shareholders to £313.6 million, with a significant portion going to Ms. Coates due to her majority ownership 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 many other corporate leaders in the UK. Notable comparisons include Eamonn O’Hare of Zegona, who earned £131 million, AstraZeneca’s Pascal Soriot with £14.7 million, and Peter Dilnot of Melrose Industries with £45.5 million.
The Coates family’s wealth, recently estimated at £9.44 billion, ranks them as the 16th richest individuals in Britain. Despite her aversion to publicity, Denise Coates founded Bet365 in a modest setting in 2000 and, along with her husband Richard Smith, upgraded to a state-of-the-art mansion designed by Lord Norman Foster’s architectural firm in rural Cheshire.
This lavish estate, costing £90 million and spread across 52 acres, boasts luxurious amenities such as a sunken tennis court, stables, ornamental gardens, workers’ cottages, and a boathouse. Ms. Coates invested £8.5 million in additional land to ensure privacy for her property. Her foresight in online gambling’s potential success led to Bet365’s thriving platform, offering diverse betting options to customers.
Moreover, the Coates family contributes significantly to the UK tax system, with their group’s tax contribution amounting to £481.5 million, a substantial increase from the previous year’s £364 million. Additionally, the Denise Coates Foundation received a generous donation of £130 million, which was allocated to various charitable institutions and causes.
The Foundation, operating with trustees, distributed £16.7 million to 22 different institutions, including The University Hospitals of North Midlands Charity. This charity received grants totaling £6.4 million to enhance medical facilities and equipment, benefiting hospitals in the region.
Previously owners of Stoke City football club, the Coates family divested ownership last year to Ms. Coates’ brother, John, amidst financial challenges. Bet365 reported a revenue increase of 9% to over £4 billion but saw a decline in pre-tax profits to £348.7 million, excluding the effects of recent tax increases on online gambling announced in the latest budget.
Bet365 remains committed to providing a safe gambling environment for its customers, emphasizing cooperation with regulators and industry partners to promote responsible gambling practices. The company prioritizes customer safety and invests significantly in this area to align with industry best practices and regulatory standards.