Bet365 Boss Earns ₤ 469m in A Single Year
Bet365 manager makes ₤ 469m in a single year
1 April 2021
The employer of the betting company Bet365 has actually been granted one of the biggest pay packets in UK corporate history.
The greatest paid director of Bet365 Group - believed to be founder and majority investor Denise Coates CBE - earned a wage of ₤ 421m in the year ending 29 March.
She likewise earned ₤ 48m in dividends, taking her overall pay to ₤ 469m.
The company said the plans were "proper and reasonable", in spite of sales falling at the firm in 2015.
But campaign group the High Pay Centre stated it was "appallingly ineffective for single people to hoard wealth in this method".
Ms Coates, who established the Bet365 site 20 years ago in Stoke-on-Trent, has been the UK's greatest paid manager for a number of years.
She is likewise among Britain's most affluent females and a major philanthropist, contributing millions through the Denise Coates Foundation.
Her salary in the year to March was more than 50% greater than the ₤ 277m received in 2019 and suggested she made almost ₤ 1.2 m every day last year.
That was more than the bosses of every FTSE 100 company combined, according to the High Pay Centre.
It came as sales at Bet365 fell 8% to ₤ 2.8 bn as global sporting events were cancelled due to the pandemic. Profits plunged 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.
The company also paid ₤ 85m to Ms Coates's charitable foundation.
Ms Coates and her brother John took control of the gambling business twenty years back, which was run by their father. Ms Coates now owns about half of the company.
She has formerly been referred to as one of the UK's "most successful women".
Bet365 manager makes ₤ 469m in a single year
1 April 2021
The employer of the betting company Bet365 has actually been granted one of the biggest pay packets in UK corporate history.
The greatest paid director of Bet365 Group - believed to be founder and majority investor Denise Coates CBE - earned a wage of ₤ 421m in the year ending 29 March.
She likewise earned ₤ 48m in dividends, taking her overall pay to ₤ 469m.
The company said the plans were "proper and reasonable", in spite of sales falling at the firm in 2015.
But campaign group the High Pay Centre stated it was "appallingly ineffective for single people to hoard wealth in this method".
Ms Coates, who established the Bet365 site 20 years ago in Stoke-on-Trent, has been the UK's greatest paid manager for a number of years.
She is likewise among Britain's most affluent females and a major philanthropist, contributing millions through the Denise Coates Foundation.
Her salary in the year to March was more than 50% greater than the ₤ 277m received in 2019 and suggested she made almost ₤ 1.2 m every day last year.
That was more than the bosses of every FTSE 100 company combined, according to the High Pay Centre.
It came as sales at Bet365 fell 8% to ₤ 2.8 bn as global sporting events were cancelled due to the pandemic. Profits plunged 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.
The company also paid ₤ 85m to Ms Coates's charitable foundation.
Ms Coates and her brother John took control of the gambling business twenty years back, which was run by their father. Ms Coates now owns about half of the company.
She has formerly been referred to as one of the UK's "most successful women".