Bet365 Boss Earns ₤ 469m In A Single Year

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Bet365 boss earns ₤ 469m in a single year


1 April 2021


The employer of the gambling firm Bet365 has been awarded among the most significant pay packages in UK corporate history.
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The greatest paid director of Bet365 Group - thought to be creator and bulk investor Denise - made a wage of ₤ 421m in the year ending 29 March.
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She likewise earned ₤ 48m in dividends, taking her overall pay to ₤ 469m.
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The company said the arrangements were "proper and fair", regardless of sales falling at the firm last year.


But project group the High Pay Centre stated it was "appallingly ineffective for single people to hoard wealth in this promotion code method".
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Ms Coates, who established the Bet365 site 20 years earlier in Stoke-on-Trent, has actually been the UK's highest paid employer for numerous years.


She is likewise one of Britain's most affluent ladies and a significant benefactor, donating millions through the Denise Coates Foundation.
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Her salary in the year to March was more than 50% greater than the ₤ 277m received in 2019 and implied she earned practically ₤ 1.2 m every day last year.


That was more than the employers of every FTSE 100 business integrated, according to the High Pay Centre.
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It came as sales at Bet365 fell 8% to ₤ 2.8 bn as international sporting occasions were cancelled due to the pandemic. Profits slumped 74% to ₤ 194.7 m.


However, the business said it had not cut staff pay or laid off staff members as an outcome of the crisis. It also did not use the furlough scheme.


The company likewise paid ₤ 85m to Ms Coates's charitable foundation.
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Ms Coates and her bro John took control of the gaming organization twenty years back, which was run by their father. Ms Coates now owns about half of the business.
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She has formerly been described as one of the UK's "most effective ladies".
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Ms Coates achieved a first-rate degree in econometrics and later on trained as an accounting professional within the household company, developing further on the understanding of the then small chain that she picked up while working part-time throughout high school.


The president's yearly pay packet is most likely to be the biggest in UK history. Earlier this month, hedge fund tycoon Sir Chris Hohn staked a claim to that title after paying himself ₤ 343m in 2015.


How Bet365's Denise Coates hit her own jackpot


18 December 2019