Bet365 boss Denise Coates gets US$648 million pay from online betting empire
Coates has earned more than $1.5 billion over the past decade, according to data compiled by Bloomberg.
Her salary of £421.2 million from the closely held British gambling company makes her one of the world’s best-paid bosses.
Her salary is the largest in British history
Founded about two decades ago, Bet365 has benefited from the growing popularity of online sports betting. The Stoke-on-Trent based company posted revenue of £2.8 billion for the fiscal year ended March 29, 2020, an 8% drop from a year earlier as the pandemic curbed sports wagering.
Operating profit fell by more than half to 194.7 million, partly due to Coates’ salary increasing from 276.6 million.
Coates bought Bet365 web domain 20 years ago
She became managing director of the business at age 22 and expanded the number of shops before deciding to shift the business online. She now owns the company with her co-CEO brother John Coates. Coates and her family also own Stoke City Football Club.
Editing by Rachel Hu