UK’s richest woman gets $616 million pay from betting empire

Denise Coates has hit the jackpot again.

The 52-year-old founder and chief executive officer of Bet365 Group pocketed 323 million pounds ($616 million) in salary and dividends, according to a filing from the British online bookmaker.

Denise Coates has an estimated net worth of $4.73b.
Denise Coates has an estimated net worth of $4.73b.Credit:PA

Her salary of 276.6 million pounds from the closely held firm makes her one of the world’s best-paid bosses. It also strengthens her status as the UK’s richest woman, adding to a fortune already among the world’s 500 largest, according to the Bloomberg Billionaires Index.

Founded two decades ago, Bet365 has cashed in on the online sports betting boom. The company posted record revenue of more than three billion pounds and increased operating profit by 15 per cent to 758.3 million pounds for the year ended March 31.


Bet365’s net income has soared even as British bookmakers face scrutiny over underage wagering. More than a third of children age 11 to 16 in the UK have spent their own money on gambling, the country’s gambling regulator said in October.

Her net worth is set to increase to more than $US5 billion through her majority stake in Bet365, according to the Bloomberg index.  According to the index, she currently has a net worth of $US4.73 billion.

The Coates family also owns the Stoke City football team.
The Coates family also owns the Stoke City football team.Credit:AP

Coates’s career is tied to her family, who own Bet365’s remaining shares. After graduating from Sheffield University with a degree in econometrics, she trained to become an accountant and took over a small chain of betting shops her father owned on the side.

Coates became managing director of the business at age 22, according to a Staffordshire University release, and expanded the number of shops before deciding to shift the business online. Along with Bet365, Coates and her family own Stoke City Football Club.

Coates was honoured by the Queen in 2012 for her services to the community and business.

She is the only woman among the 16 UK-based billionaires in the ranking, which includes Virgin Group founder Richard Branson and Joe Lewis, owner of Tottenham Hotspur Football Club.


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