Bet365s creator, Denise Coates, experienced a reduction in her yearly earnings of £170 million (equating to roughly $227 million), yet she retains the top position as the UK’s highest contributor to the treasury.
Financial records submitted to Companies House in the UK reveal that the gambling enterprise generated £2.8 billion in income for the financial year concluding in March 2021, a figure comparable to the preceding year. This translates to a profit of £470 million for the business, from which Coates received approximately £250 million as her fundamental compensation. Furthermore, Coates obtained nearly £50 million in dividends stemming from her ownership stake in Bet365, exceeding 50%.
Despite a decline of £170 million in her remuneration compared to the prior year, Coates still earned close to £300 million when considering her base pay and the portion of dividends accessible to directors.
Calculations indicate that over the past five years, Coates has personally accrued an estimated £1.3 billion.
“As the period commenced, we encountered a near-total halt in sporting events; however, by the time the first half of the year concluded, we witnessed the revival of sports, with the vast majority of European football leagues successfully completing their domestic seasons,” the company stated.
Indeed, Bet365’s sports betting handle decreased by 13% throughout this timeframe. The company also factored in financial setbacks from Stoke City Football Club, in which the Coates family holds a 93% ownership interest.
Even with a revenue decrease, bet365 experienced a surge in operating income. The firm generated an impressive £286 million, a 47% increase, allegedly attributed partly to reductions in executive pay.
Established in 2001 by the Coates family – Denise, her sibling John, and their father Peter – bet365 has evolved into a gaming powerhouse. The family’s personal fortune is substantial. This year, it’s approximated they contributed £482 million in taxes, nearly £2 billion more than the UK’s second-largest taxpayer, Chris Rokos.
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