Bet365 Boss Earns ₤ 469m In A Single Year
Bet365 manager earns ₤ 469m in a single year
1 April 2021
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The boss of the gaming firm Bet365 has been granted one of the biggest pay packages in UK corporate history.
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The greatest paid director of Bet365 Group - believed to be creator and bulk investor Denise Coates CBE - earned a salary of ₤ 421m in the year ending 29 March.
She likewise earned ₤ 48m in dividends, taking her total pay to ₤ 469m.
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The company said the plans were "proper and fair", despite sales falling at the firm last year.
But project group the High Pay Centre stated it was "appallingly ineffective for single people to hoard wealth in this promotion code way".
Ms Coates, who established the Bet365 site twenty years ago in Stoke-on-Trent, has been the UK's highest paid boss for several years.
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She is also among Britain's wealthiest ladies and a significant benefactor, donating millions through the Denise Coates .
Her wage in the year to March was more than 50% greater than the ₤ 277m gotten in 2019 and suggested she earned almost ₤ 1.2 m every day last year.
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That was more than the managers of every FTSE 100 company integrated, according to the High Pay Centre.
It came as sales at Bet365 fell 8% to ₤ 2.8 bn as global sporting occasions were cancelled due to the pandemic. Profits dropped 74% to ₤ 194.7 m.
However, the business stated it had not cut personnel pay or laid off staff members as a result of the crisis. It also did not use the furlough scheme.
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The business also paid ₤ 85m to Ms Coates's charitable foundation.
Ms Coates and her sibling John took control of the gambling business 20 years ago, which was run by their daddy. Ms Coates now owns about half of the company.
She has actually formerly been referred to as one of the UK's "most effective ladies".
Ms Coates attained a top-notch degree in econometrics and later trained as an accounting professional within the family firm, developing even more on the knowledge of the then little chain that she picked up while working part-time during high school.
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The chief executive's yearly pay packet is likely to be the most significant in UK history. Earlier this month, hedge fund tycoon Sir Chris Hohn staked a claim to that title after paying himself ₤ 343m in 2015.
How Bet365's Denise Coates struck her own jackpot
18 December 2019