Gambling giant’s CEO cashes in as profits soar
Online gambling giant Bet 365 has reported another year of soaring profits, leading to a bumper pay out for its billionaire boss Denise Coates.
Bet 365, Stoke’s biggest private sector employer, posted a 28% rise in pre-tax profit to £660.6m in the year to March on turnover of £2.9bn. The company said a number of product enhancing developments and investments during the period continues to benefit the group’s sports offering, including the launch of Bet Builder and the expansion of Early Payout to high profile sporting events.
Meanwhile, additions to live streaming content saw the number of live sporting events streamed in the period extended to around 160,000.
On the back of the company’s stellar results, Coates pocketed a £265m salary last year. She was paid £220m in 2018, as well as half of a £90m dividend, according to latest accounts filed at Companies House.
The figure was £48m higher than Coates, who is joint chief executive with her brother John, was paid in 2017.
Ms Coates, John, their father Peter, who is chairman, and finance director Will Roseff shared a total of £321.6m last year.
However, the news has not been as good for Stoke City FC, which is owned by Bet 365, as it slumped to a £30m loss following relegation from the Premier League.
