Richest Lady Of UK, Coates Gets $648 Million Pay From Betting Empire

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According to a filing from the online bookmaker, the 53-year-old founder and chief executive officer of Bet365 Group Ltd., Coates, received 468.9 million pounds ($648 million) in compensation and dividends, about 50% more than a year ago.

She is one of the world’s best-paid managers, with a salary of 421.2 million pounds from the privately owned British company. It also cements her spot as the richest woman in the United Kingdom, contributing to a fortune that already ranks among the world’s top 500, according to the Bloomberg Billionaires Index. According to Bloomberg reports, Coates has made more than $1.5 billion in the last ten years.

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U.K.'s Richest Woman Denise Coates Gets $422 Million Pay - Bloomberg
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Bet365, which was established nearly two decades ago, has benefited from the increasing growth of online sports betting. The business based in Stoke-on-Trent, England, recorded revenue of 2.8 billion pounds for the financial year ended March 29, 2020, down 8% from the previous year as the Covid-19 pandemic curtailed sports wagering. Coates’ pay rose from 276.6 million pounds to 194.7 million pounds, decreasing operating profit by more than half to 194.7 million pounds.

A request for comment from Coates’ representative was not immediately returned.

Journey Of Coates:

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Coates qualified to start her career in Economics and become an accountant after graduating from Sheffield University with a degree in econometrics, and she took over a small chain of betting shops her father owned on the side. 

According to a Staffordshire University release, she became managing director of the company at the age of 22 and increased the number of stores before choosing to take the company online. Coates and her family also own Stoke City Football Club, in addition to Bet365.

Coates is the only woman among the 17 British billionaires listed on Bloomberg’s wealth index, which includes Virgin Group founder Richard Branson and Tottenham Hotspur Football Club owner Joe Lewis.

Last year, she pledged ten million pounds to the United Kingdom’s battle against Covid-19, and Bet365 contributed 85 million pounds to her foundation in its most recent accounts. This shows how kind-hearted she is. According to the new filing, the Denise Coates Foundation had net assets of 337.8 million pounds at the end of March 2019.

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Parth Dubey
I am Parth Dubey, currently an undergraduate. I have been working as a content writer for the past 6 months and have worked in various fields with many people and firms. I firmly believe that writing is not just about money making or attracting people, it's more about knowledge and information, along with feelings.

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