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Bet365 boss Denise Coates halved her annual payout from the family's gambling empire to £150m last year, a payday that still cements her position as one of the UK's richest CEOs.
Coates – the highest earner at the company – earned a salary of £95m in the year to March 2024, according to accounts filed at Companies House, down from 221 million pounds sterling The previous year.
In addition, it was entitled to more than half of the dividends paid by the UK-based group, equivalent to more than £55 million of the £110 million dividend in the year. This was an increase on the £100 million paid the previous year.
In total, this means Coates took home around £150m, down on the £270m she took home last year in salary and profits.
Latest accounts mean Coates has received more than £2.5bn over the past 15 years, according to Company House files, for her role in overseeing the rapid rise and success of the family gambling empire still based in their home town of Stoke-on. -Trent.
Coates, a University of Sheffield economics graduate, persuaded her father to mortgage his bookmakers chain for the initial investment for the online gaming group, which began in temporary offices in Stoke in 2001. The high street chain was sold in 2005 to allow the business to focus solely on the booming market in betting. Online.
Coates She has chosen to keep the business in Stoke and run by the family, with more than half the group still owned by her and another significant stake held by her brother John, who is joint CEO. The couple — who rarely speak to the press — still oversees most operations, development, legal and finances, analysts and former employees say.
The group is the largest employer in the Stoke area and one of the largest private companies to pay corporation tax, although several competitors have set up operations abroad.
Bet365 accounts show that £120m was donated in the last financial year to the Denise Coates Foundation, a registered charity, up from £100m the previous year.
The group reported pre-tax profits of £596.3m for the year, compared to a loss of £72.6m the previous year when it was expanding in regions such as North America. Revenue rose 9 per cent to £3.7bn in the year to March 2024.
During the year, the company said it sought licenses in new markets with “commercially viable regulation,” with licenses awarded in several US states and “more resources allocated to further expand our footprint in both North and South America.”
The group was the majority owner of Stoke City Football Club, which made a pre-tax loss of £30.3m – higher than the £12.4m loss in 2023. However, accounts show this loss was axed in July 2024, with the stake Control is now owned by John Coates, brother of Dennis Coates.
