Denise Coates: Bet365 CEO Takes 45% Pay Cut Yet Rakes in Over £150 Million

Denise Coates, the chief executive of Bet365 and one of the wealthiest women in Britain, took a significant 45% pay cut, earning over £150 million in the fiscal year ending March 2024. This marks a drop from her previous salary of £221 million, with her compensation for the year totaling £94.7 million. In addition to her salary, Coates was eligible for more than half of the company’s dividend payouts, receiving approximately £63 million out of a total £110 million. Despite the pay cut, Bet365 has reported a remarkable turn-around, showcasing a pre-tax profit of £596.3 million, a substantial increase from a loss of £72.6 million the prior year, coinciding with recent expansions into North America. Bet365’s revenue grew by 9% to £3.7 billion, aided by reduced executive pay and operational efficiencies. The company, which Coates founded over 20 years ago in Stoke-on-Trent, has emerged as a global leader in online gambling, under her stewardship and strategic vision. Bet365 is also recognized as the largest employer in Stoke, contributing significantly to the local economy. Coates, who holds a first-class degree in econometrics and trained as an accountant, took charge of her family’s betting business at a young age, transforming it into a powerhouse in the online gambling industry. The Coates family’s collective net worth is approximately £7.5 billion, placing them 20th on the latest Sunday Times Rich List.