Bet365 manager makes ₤ 469m in a single year

1 April 2021

In charge of the gambling company Bet365 has actually been granted among the most significant pay packages in UK corporate history.

The highest paid director of Bet365 Group - believed to be founder and bulk shareholder Denise Coates CBE - earned an income of ₤ 421m in the year ending 29 March.

She likewise earned ₤ 48m in dividends, taking her total pay to ₤ 469m.

The company stated the plans were "suitable and fair", in spite of sales falling at the company in 2015.

But project group the High Pay Centre said it was "appallingly inefficient for single individuals to hoard wealth in this promotion code method".

Ms Coates, who established the Bet365 website 20 years back in Stoke-on-Trent, has actually been the UK's greatest paid boss for several years.

She is likewise among Britain's wealthiest women and a major philanthropist, donating millions through the Denise Coates Foundation.

Her salary in the year to March was more than 50% greater than the ₤ 277m received in 2019 and implied she made nearly ₤ 1.2 m every day last year.

That was more than the one in charges of every FTSE 100 business combined, according to the High Pay Centre.

It came as sales at Bet365 fell 8% to ₤ 2.8 bn as global sporting occasions were cancelled due to the pandemic. Profits dropped 74% to ₤ 194.7 m.

However, the company stated it had not cut personnel pay or laid off workers as a result of the crisis. It also did not utilize the furlough scheme.

The company also paid ₤ 85m to Ms Coates's charitable foundation.

Ms Coates and her bro John took control of the gaming business 20 years earlier, which was run by their father. Ms Coates now owns about half of the business.

She has previously been referred to as one of the UK's "most successful women".

Ms Coates achieved a first-rate degree in econometrics and later on trained as an accounting professional within the family firm, building further on the knowledge of the then small chain that she picked up while working part-time during high school.

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

How Bet365's Denise Coates struck her own jackpot

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