Bet365, the British gambling Firm, paid its CEO, Denise Coates, a total of 424m dollars last year. That sets the record for the highest paying CEO of a British company ever. Denise Coats received a payment of $363 million in salary, in addition to dividends, which reached a total of $424m in 2018. The yearly salary for the co-founder of Bet365 shattered all previous records for annual executive pay in the UK. She smashed her previous record of $347m in 2017 and $284m in the year before it. In 2018, according to reports, Bet365 was able to achieve a total profit of one billion dollars before the deduction of taxes from gambling. As a result of these massive numbers, Coates was able to cash in more than one billion dollars from the UK firm throughout the last three years only.Bet365 group owns a Premier League football club, Stoke City, which reported a 20 million dollar loss in the group’s financial year lading to May. It is the first reporting period following its relegation to a lower tier in the Premier League.
Denise Coates – A Legendary CEO in the Gambling Business
Denise Coates is undoubtedly one of the most successful entrepreneurs in the United Kingdom. She co-founded the UK gambling firm, with her brother, John Coates, back in 2000. It is an internet casino and sports betting website. The Co-CEO has built a fortune of more than 12 billion dollars thanks to its thriving business, Bet365, where she owns 50% of the shares. The record-breaking salary of the CEO has sparked controversy in the United Kingdom because of excessive executive pay. The release of this number comes a short while following the general election where the opposition Labour Party was campaigning to tackle inequality and the billionaires of Britain.
Bet365 Co-CEO Comments on the Business
Denise Coates commented on the future developments at Bet365. She stated that there is a global change in the leisure and gambling industry. These changes will undoubtedly present chances for the group to enhance its global presence. She added that the Bet365 Group would continue investing in technology and IT infrastructure worldwide.