Bet365 boss Denise Coates earned £280m despite sharp drop in profits last year

THE boss of gaming giant Bet365 took home at least £280 million ($379 million) in wages and dividends last year, even though the company’s profits fell sharply, according to its latest accounts filed at Companies House.

A review of the deposit by ReadWrite shows that Denise Coates received £104 million ($141 million) in salary alone. Rather than being highlighted up front, this figure is buried in the accounts under the remuneration of key executives, instead of appearing as a single salary total. The accounts state: “Emoluments paid to key executives totaled £104.0 million. »

In addition to his salary, Coates received a large dividend. The company confirmed in its strategic report that: “The company declared dividends of £353.6 million (2024: £110.0 million). »

Bet365 boss Denise Coates is still one of Britain’s highest-paid bosses.

As the majority shareholder of Bet365, Coates takes home the lion’s share of the dividend. Even using conservative estimates from analysts and previous reports, this brings its total profit for the year to at least £280 million.

This massive payment has arrived even if profits took a hit. The company said its pre-tax profit fell sharply from the previous year, largely due to rising costs and tighter regulation in major gambling markets.

Bet365 highlighted higher compliance spending, increased spending on safer gaming measures and a tougher business environment as the main reasons for the decline. Earlier this year, we reported that the company was even plans historic sale of the company for £9 billion ($11.94 billion).

However, the shareholders did very well. Dividends more than tripled year-over-year, showing the company has continued to reward investors handsomely despite earnings pressure.

Coates’ salary does not appear in a standard pay table because private companies are not required by Companies House to publish one. Instead, the details are filed in the accounts, under notes covering transactions with related parties and key management personnel.

Taken together, these figures reinforce Coates’ status as one of the world’s highest-paid executives, with annual profits that eclipse those of FTSE 100 CEOs several times over.

Featured image: bet365 / Staffordshire University via YouTube

The position Bet365 boss Denise Coates earned £280m despite sharp drop in profits last year appeared first on ReadWrite.

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