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Bet365 CEO Denise Coates earns £280 million despite profit drop
Her total compensation jumped more than two-thirds from nearly £158 million the previous year, despite a significant fall in the company’s profits. Ms Coates was awarded £104 million in salary and, as the majority shareholder, was entitled to at least half of Bet365’s £354 million dividend payout for the year.
The £280 million package brings Ms Coates’ total earnings from the company to over £2 billion in the past decade.
Campaigners criticised the size of the payout. Andrew Speke, director of the High Pay Centre, said: “Denise Coates is well-liked in Stoke for being self-made and giving back to her community. But the eye-watering sums she earns go far beyond what anyone needs for a life of luxury, and her fortune comes from an industry that has caused real harm to too many people.” Bet365 did not immediately respond to a request for comment.
The pay announcement comes as the company reported a sharp decline in pre-tax profits, which fell to £339 million from £596 million the previous year. Total revenue, however, increased 9% to £4 billion, up from £3.7 billion.
Ms Coates founded Bet365 more than 20 years ago in a portable building in a Stoke-on-Trent car park. The company has since grown into one of the UK’s largest private employers in the city, offering sports betting, poker, casino games and online bingo to millions of customers worldwide.
She is one of the country’s wealthiest women and consistently ranks among the world’s top-earning executives. After training as an accountant, she helped transform her father’s bookmaking business into a global online gambling firm. Her brother, John Coates, is a co-chief executive of Bet365.
Denise Coates Foundation
As one of the UK’s top earners, Ms Coates is also among its biggest taxpayers. Her £104 million salary alone would generate tens of millions in income tax and national insurance contributions. Bet365 reported paying £482 million in taxes in the year to March, up from £364 million the previous year, including taxes on dividend payments.
The company also donated £130 million to the Denise Coates Foundation during the year. The foundation supports projects in education, health, and arts and culture.
Ms Coates’ rise at Bet365 reflects the rapid growth of online gambling, which has expanded globally despite rising regulatory scrutiny. The company, privately owned and headquartered in Stoke-on-Trent, has benefited from the digital shift in gambling, attracting millions of online users.
iGaming CEOs outearn other industries
Despite controversy over executive pay in the sector, Ms Coates’ compensation has consistently outpaced the earnings of many other UK business leaders. Analysts have noted that her dual role as CEO and majority shareholder gives her control over both salary decisions and dividend allocations.
Bet365’s financial performance highlights a broader trend in the gambling industry, where revenues are growing even as profits fluctuate due to operational costs, marketing expenditure, and regulatory pressures. The company’s 9% revenue increase underscores continued demand for online gambling services, even in a competitive market.
Ms Coates’ wealth accumulation also comes amid ongoing debates over the social impact of gambling. Industry critics argue that while firms like Bet365 generate substantial tax revenues and charitable donations, the broader societal costs of gambling-related harm remain high.
