Bet365 Chief Cuts Salary, But Still Takes Home £158 Million

Who is denise coates

Denise Coates, the chief executive of Bet365, one of the world’s largest online gambling platforms, has seen a significant reduction in her salary for 2024, but still managed to secure an eye-watering £158 million compensation package. The business mogul saw her salary drop from £221 million the previous year to £94.7 million for the year ending in March 2024. In addition, she received £63 million in dividends, according to the company’s financial reports.

Coates, who founded Bet365, remains one of the wealthiest and most influential women in the UK. In 2023, her personal fortune was estimated at US$ 7 billion by Forbes, cementing her status as one of the most powerful figures in global business. Despite the salary cut, the chief of Bet365 continues to be one of the highest-paid executives in the sector, with her wealth growing alongside the company’s expansion into new markets.

BET365

Under Coates’ leadership, Bet365 offers online sports betting, poker, casino games, and bingo, attracting millions of customers worldwide. In the last year, the company reported a pre-tax profit of £596.3 million, turning around a loss of £72.6 million from the year before. This performance reflects the company’s continued growth, with revenues rising by 9% to £3.7 billion.

However, Coates’ pay has been subject to scrutiny. Luke Hildyard, executive director of the think tank High Pay Centre, questioned the fairness of her compensation, arguing that her wealth is largely derived from the money of gamblers and the work of thousands of company employees. “People deserve to be rewarded for innovation and success, but the question is what’s reasonable and proportional. No one becomes a billionaire in isolation from society,” Hildyard stated.

Denise Coates, the chief of Bet365, has long been a visionary in the online gambling industry. Over 25 years ago, while working at the family’s chain of betting shops, she saw the potential of the internet to transform the industry. She persuaded her family to remortgage the business to fund the development of new software that would enable people to place bets online. This strategic vision and bold decision made Coates a key player in revolutionising the sector, and Bet365 has grown into a global giant in online gambling.

Today, Denise Coates is one of the leading business figures in the UK. Bet365, headquartered in Stoke-on-Trent, has become one of the area’s most successful businesses and the largest private employer in the region. Under Coates’ leadership, the company has expanded exponentially, not only dominating the online betting market but also becoming a trusted platform used by millions of customers globally. Her knack for spotting market opportunities and her determination to succeed have earned her a place among the most admired female leaders in business.

Bet365’s growth has also brought significant economic benefits to the Stoke-on-Trent area, where the company is based. Under Coates’ leadership, the company has become one of the largest private employers in the region, generating thousands of jobs and contributing to local economic growth. At the same time, the chief of Bet365 has remained committed to ensuring the company stays on the cutting edge of innovation, ensuring that the platform continues to grow and expand into new markets.

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Over the years, Coates has earned recognition for her strategic foresight, which turned Bet365 into one of the leading names in the global online gambling market. Her success is a clear example of how innovation and leadership can transform any industry. Coates’ vision for the future of Bet365 continues to be a key factor in the company’s ongoing success.

Despite the undeniable success of Bet365, the gambling industry is now facing increasing regulatory challenges. In November 2024, the UK government introduced a new set of rules for the gambling sector, including a £5 per spin limit on online slot games for adults over 25, and a lower £2 limit for 18 to 24-year-olds. These changes are part of a broader reform aimed at tackling gambling addiction and creating a safer betting environment. Additionally, the government plans to introduce a mandatory levy on gambling companies to fund addiction treatment services.

These new regulations aim to make gambling safer and more responsible, but they could also impact the profitability of operators in the sector, including Bet365. The chief of Bet365, who has always championed innovation and growth, will now have to navigate these new challenges as the company adapts to the evolving regulatory landscape. While the gambling industry faces tighter regulations, Bet365, under Coates’ leadership, has shown its ability to adapt and continue to thrive.

With Bet365’s ongoing success and Coates’ strategic vision, the company is well-positioned to overcome the challenges of the online gambling market and continue its growth trajectory. At the same time, the debate about Coates’ pay highlights a broader discussion about the role of executives in large corporations and the relationship between wealth and the collective efforts of an entire workforce.

In an industry that is constantly evolving, the chief of Bet365 remains one of the most influential and successful figures in business, and her name will go down in history as one of the most visionary female entrepreneurs of recent times.