Bet365 Boss Earns ₤ 469m in A Single Year

Register at Bet9ja using the promotion code YOHAIG for a N100,000 welcome bonus

Bet365 boss makes ₤ 469m in a single year

1 April 2021

The manager of the gambling firm Bet365 has actually been granted among the biggest pay packets in UK business history.

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

She also made ₤ 48m in dividends, taking her overall pay to ₤ 469m.

The company said the arrangements were "appropriate and fair", in spite of sales falling at the company in 2015.

But campaign group the High Pay Centre said it was "appallingly ineffective for single individuals to hoard wealth in this method".

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

She is also among Britain's wealthiest ladies and a significant benefactor, donating millions through the Denise Coates Foundation.

Her income in the year to March was more than 50% higher than the ₤ 277m received in 2019 and implied she made nearly ₤ 1.2 m every day in 2015.

That was more than 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 events were cancelled due to the yohaig code pandemic. Profits dropped 74% to ₤ 194.7 m.

However, the company said 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 business likewise paid ₤ 85m to Ms Coates's charitable foundation.

Ms Coates and her sibling John took control of the gaming service 20 years earlier, which was run by their dad. Ms Coates now owns about half of the company.

She has formerly been referred to as among the UK's "most effective females".

Ms Coates achieved a first-rate degree in econometrics and later trained as an accountant within the family company, developing further on the understanding of the then small chain that she got while working part-time during high school.

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