Bet365 Boss Denise Coates Receives At Least £280m in Pay and Dividends Despite Profit Slump
In the year to March 2025, Bet365's turnover rose to £4bn from £3.7bn, but pre-tax profits declined sharply to £349m from £627m the previous year.
Denise Coates, the company's boss, received at least £280m in total pay and dividends, including a £104m salary and entitlement to at least 50% of a dividend totaling £353.6m.
Since founding the business in a car park, Coates has extracted cumulative pay and dividends exceeding £2.5bn.
The group’s expenses increased by £325m due to a strategic reshaping, which involved expanding in the US and South America and exiting the Chinese market, where online betting is illegal.
Bet365 donated £130m to the Denise Coates Foundation, with tax breaks linked to these donations potentially saving the company more money than the charity has disbursed to causes.
The company also waived loans to Stoke City Football Club, which is now controlled by Coates’s brother, John.
One-off restructuring and reorganisation costs of £59m were recorded following exit from certain markets, including China, which was completed by the end of March. Some related costs may still impact the current year.
Despite earlier reports from The Guardian, the company’s accounts did not mention ongoing talks about a potential £9bn sale of the group.
During the year, Bet365 extended its US footprint by entering five new states and is now licensed to operate in 16 US states.
