Bet365’s Denise Coates Becomes Britain’s Top CEO Following £217 Million Payout

Bet365 boss Denise Coates was the highest paid CEO in the UK last year thanks to her online betting company’s continued growth.

Denise Coates

Denise Coates has paid herself £217 million following a major jump in Bet365’s operating profits. (Image: charitytoday.co.uk)

According to a recent financial statement, Coates noted “significant growth” as the primary reason she received an annual pay packet worth £199 million.

On top of her annual earnings, Coates also received a dividend of £18 million to take her 2016/2017 payout to £217 million.

Coates is Britain’s Biggest Power Player

As well as being more than 1,300 times the annual salary of the Prime Minister Theresa May, the colossal payout makes Coates the top paid executive in the country.

The previous titleholder, Sir Martin Sorrell of communications services group WPP, earned £48 million in 2016/2017, which was still £169 million short of Coates.

In addition to receiving an industry-leading payout, Coates confirmed in the November 13 trading statement that £50 million had been donated to charity.

Titled the Denise Coates Foundation, the organisation provides to grants charities dealing with issues such as health, education and medical research.

A Family Affair

Alongside her brother John, Denise launched Bet365 in 2000. Today, the Coates family maintains a 93 percent stake in the online betting company, with Denise being the majority shareholder at 50.1 percent.

During the previous accounting period, Bet365 processed more than £47 billion in bets thanks to a 27 percent increase in customer activity. Alongside this increased betting activity, Bet365 saw active customer numbers improve by 35 percent to take group revenue to £2.15 billion.

Euro 2016 played a major part in the annual growth rate, but the company’s financial report also showed that mobile betting was up 61 percent during 2016 and 2017. This combination of factors ultimately led to a 15 percent jump in operating profits to £514 million.

Because of this significant level of growth, Coates has said her salary is justified. Additionally, the company’s revenue has made it one of the largest operators in the UK. Indeed, even with competitors such as Ladbrokes, Coral, Betfair and Paddy Power all agreeing mergers, Bet365 has remained strong as an independent entity.

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