Denise Coates, known as the gambling queen, has recently received a windfall of £260 million, bringing her total payouts to £2.7 billion over the last 15 years. As the head of Bet365, she solidified her position as one of the highest-paid executives in the UK and the highest-paid woman with this latest boardroom bonus.
According to the newly released financial reports of her family’s gambling business, Coates received a staggering salary of £104 million, a significant increase from the previous year’s £94.7 million. The Bet365 Group also tripled cash dividends to family shareholders, totaling £313.6 million, with Coates, aged 58, holding a majority stake in the company.
Despite falling short of her record £469 million windfall in 2021, the £260 million payout surpasses the earnings of other top executives in the UK. Notable figures include Eamonn O’Hare of Zegona, who earned £131 million, AstraZeneca’s Pascal Soriot with £14.7 million, and Melrose Industries’ Peter Dilnot with £45.5 million.
This latest windfall contributes to the Coates family’s substantial wealth, estimated at £9.44 billion in the recent Sunday Times Rich List, ranking them as the 16th richest individuals in Britain. Coates, who founded Bet365 in 2000, has kept a low profile. She and her husband resided in a farmhouse before commissioning a lavish £90 million mansion in Cheshire designed by Lord Norman Foster’s architectural firm.
The estate spans 52 acres and features luxurious amenities such as a sunken tennis court, stables, ornamental gardens, workers’ cottages, and a boathouse. Coates invested £8.5 million in surrounding land for privacy. She once expressed her early belief in online gambling’s success due to its privacy and accessibility in offering diverse betting options to customers.
Additionally, the Coates family is renowned for their substantial tax contributions, with the group’s tax payment to the UK Exchequer amounting to £481.5 million, up from £364 million in the previous year. The group also made significant charitable donations totaling £130 million to the Denise Coates Foundation.
The Foundation, operating with trustees, allocated £16.7 million to various institutions in the previous year, including The University Hospitals of North Midlands Charity. This funding will support essential medical equipment for hospitals. Stoke City football club, previously owned by the Coates family, is now under the ownership of Coates’ brother, John.
Bet365 reported a 9% revenue increase to over £4 billion in the year ending March, although pre-tax profits nearly halved to £348.7 million. The accounts do not reflect the impact of increased online gambling taxes announced in the recent Budget.
Bet365 emphasizes its commitment to ensuring a safe gambling environment for customers and continues to invest significantly in this area, collaborating with regulators and industry peers to promote responsible gambling practices.