Denise Coates, renowned in the gambling industry, 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 disclosed accounts of her family’s gambling enterprise, Coates earned a salary of £104 million, a notable increase from £94.7 million in the previous year. Additionally, Bet365 Group tripled the cash dividends to family shareholders, amounting to £313.6 million, of which a significant portion went to Ms. Coates due to her majority stake in the company.
While the £260 million windfall is slightly lower than her previous record of £469 million in 2021, it still surpasses the earnings of other notable company executives in the UK. The Coates family’s wealth, estimated at £9.44 billion on the latest Sunday Times Rich List, ranks them as the 16th wealthiest individuals in Britain.
Denise Coates, known for her aversion to public attention, founded Bet365 in a modest setting in 2000. Despite living in a farmhouse near Stoke for many years, she and her husband later commissioned a cutting-edge mansion in rural Cheshire designed by Lord Norman Foster’s architectural firm.
The £90 million estate, situated on 52 acres, boasts luxurious features such as a sunken tennis court, stables, ornate gardens, workers’ cottages, and a boathouse. Coates invested £8.5 million in acquiring surrounding land to ensure privacy for the property. In a rare interview, she expressed confidence early on in the success of online gambling, citing its privacy, accessibility, and the vast range of betting options it offers to customers.
The Coates family also stands out as one of the UK’s major taxpayers, contributing significantly to the UK Exchequer. The group’s total tax contribution amounted to £481.5 million, an increase from £364 million in the previous year.
Separately, significant charitable donations were made to the Denise Coates Foundation, totaling £130 million last year. The Foundation, characterized as a company with trustees, distributed funds to 22 institutions through 27 donations and grants. Recipients included The University Hospitals of North Midlands Charity, receiving grants for essential medical equipment and facilities.
Stoke City football club, previously owned by the Coates family through Bet365, saw a transition in ownership to Ms. Coates’ brother, John, resulting in a substantial financial loss. Bet365 reported a revenue increase of 9% to over £4 billion in the year ending March, although its pre-tax profit nearly halved to £348.7 million.
The accounts do not reflect the impact of recent online gambling tax hikes announced in the Budget by Chancellor Rachel Reeves, aimed at addressing problem gambling and supporting initiatives to combat child poverty. Bet365 remains dedicated to providing a secure environment for its customers and emphasizes ongoing investments in promoting responsible gambling practices in collaboration with regulators and industry partners.
At Reach and its affiliated entities, we and our associates utilize data collected through cookies and other identifiers to enhance user experience, analyze site usage, and deliver personalized advertising. Opt-out options are available for data sharing preferences. By using our services, you agree to our use of cookies and consent to our Privacy Notice and Terms and Conditions.