Optimistic about the future of online gambling, the woman behind the success of bet365
Playtech has recently established a partnership with bet365 on American soil, in New Jersey, the first state to legalise casinos and sports betting activities for online players.
Playtech has recently established a partnership with bet365 on American soil, in New Jersey, the first state to legalise casinos and sports betting activities for online players. A partnership between the two means that Playtech games will now be available at the bet365 online casino in New Jersey, significantly expanding what has already become one of the most positively received gaming platforms, since originally arriving on American shores. Famed for the vast selection of sports betting markets they have available, bet365 also offers a full spectrum of online casino gaming options for their clients including classic table games like poker and blackjack. The company have also extended their offering to remain competitive in the market by offering recently popular slot games as well as a range of roulette games.
Playtech employs almost 6,000 people at bases in 19 countries around the world, which has helped them establish a strong international foothold, with 140 global licensees in 20 regulated jurisdictions. Aside from the games, the company also provides fully integrated software suites to manage and provide seamless content, whether via mobile or desktop devices. Their long-term partnership with bet365 provides the next step into a booming American market.
The success of bet365 is quite a remarkable story, which is largely thanks to the vision and outstanding leadership of Denise Coates, founder and joint chief executive of the online gambling company founded in 2000. Even more impressive is that as a fledgling company, bet365 was actually founded in a small portable cabin, located within a parking lot in Stoke-on-Trent.
Having led the family-owned small chain of betting shops since 1995 as managing director, Coates had already identified that online betting was the future of the industry. After purchasing the bet365.com website domain name, the online sports betting site was launched in 2001, with Coats having taken a significant gamble of her own, financing the new enterprise with a business loan of £15 million offset against the family betting shop chain.
In less than a decade, bet365 had already established itself as the foremost online sports betting site in the United Kingdom, before rapidly spreading elsewhere around Europe and the world. While the company still retains headquarters in Stoke-on-Trent, the main operating hub is now located in Gibraltar, with further bases in Malta, Bulgaria, and Australia, while presently employing more than 4,000 via their global operations.
According to financial reports published by Gambling Insider in December 2019, bet365 generated almost £3 billion in revenues over a 12-month period ending in March 2019, indicating a 10% year-on-year growth. Operating profits also increased by 12% during the same period to exceed £767 million, as mobile sports revenues grew by 18% and active customers rose 23%. This period was also marked by further American expansion with the purchase of Empire Resorts in New York.
There’s no doubting that Denise Coates is the beating heart behind the success of bet365, having led the company to becoming one of the most famous names in the online gambling and gaming industry. Forbes estimate the current net worth of Coates in 2020 as having surpassed $9.5 billion, also highlighting that in 2019 she was the highest-paid British CEO with earnings of more than $432 billion.
More than a few sections of the British tabloid press have been scornful of such a high salary, although it’s impossible to deny that Coates has worked tirelessly to build such an impressive company from the ground upwards, firmly establishing bet365 as one of the most famous and profitable gambling companies in the world. Such success doesn’t come without exceptional talent and leadership qualities, which Coates has clearly demonstrated over the last two decades.
While her story isn’t entirely rags to riches, having been introduced to the gambling industry through the small but established family business, Coates is very much responsible for her own success, as one of the most ambitious visionaries within the online betting and gaming sphere. In particular, her personal success story as a career woman began its trajectory in what was predominantly a male-dominated industry, although Coates has been a driving force in changing many perceptions.
In recognition of her services to business and the wider community, Coates was appointed as a Commander of the Order of the British Empire (CBE) in 2012, and subsequently named as one of the 100 most powerful women in the United Kingdom by the BBC Woman’s Hour radio show. With the arrival of the bet365 brand in America in the last couple of years, with the betting and gaming industry undergoing massive changes in states throughout the country, Coates may well become one of the most influential gambling tycoons in the world.