Bet365s creator, Denise Coates, witnessed a £170 million (about $227 million) decrease in her earnings last year, yet she maintains her position as the top taxpayer in the United Kingdom.
Financial records submitted to Companies House in the UK reveal that the gaming enterprise generated £2.8 billion for the fiscal year concluding in March 2021, nearly identical to the preceding year. This equates to a profit of £470 million, from which Coates received approximately £250 million as her base compensation. Furthermore, Coates obtained just under £50 million in dividends owing to her controlling interest in bet365, exceeding 50%.
Although her remuneration declined by an estimated £1.7 billion from the prior year, this signifies that Coates still earned close to £300 million when considering her base salary and the share of dividends accessible to directors.
Over the past five years, Coates’ cumulative personal income amounts to roughly £1.3 billion.
“As the period commenced, we encountered a near-total halt in sporting events; however, by the conclusion of the first half of the year, we observed the resumption of sports, with the vast majority of European football leagues successfully completing their domestic seasons,” the company stated.
Indeed, bet365’s sports wagering revenue dwindled by 13% during this timeframe. The company also shouldered losses from Stoke City Football Club, in which the Coates family holds a 93% stake.
Nevertheless, bet365 witnessed its operational earnings surge by an impressive 47% to £2.86 billion, ascribing this triumph in part to a decrease in leadership compensation.
Established in 2001 by the Coates clan, the gaming behemoth is principally managed by Denise Coates, alongside her sibling, John, and their father, Peter.
This year, the Coates family purportedly remitted a colossal £4.82 billion in taxes, exceeding the UK’s second-largest taxpayer, Chris Rokos, by a substantial £1.8 billion.
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