Bet365 chief exec Denise Coates becomes UK’s highest-paid boss after earning �199m last year

Bet365 chief exec Denise Coates becomes UK’s highest-paid boss after earning �199m last year
User Rating: 0 (0 votes)

Whilst the government is shouting loudly about tightening up gambling advertising laws and protecting the vulnerable it is obvious that some will always profit from it. Some companies will even use the new regulations to profit themselves. Sky Bet affiliate closes.

Just the affiliate side closed so none of the vunerable have quite been saved as yet but the company who now owns Sky Bet no longer has to pay out millions in commissions to its loyal affiliate promotors over the years. The only change then is quite a lot of affiliate’s are now looking for a new career.

Do you think that 199 million is a little to much to be paid ?. I say why not its the her and (her brothers company) money as she has earned it through her own company. Its only gross when some CEO awards himself someone else money.

Now for the story

The co-founder and chief executive officer of gambling firm Bet365 paid herself a record £199m last year, as the company posted a healthy £525m profit for the 2016/17 financial year.

Denise Coates is now the highest-paid boss in Britain, and is significantly wealthier than the previous titleholder, Sir Martin Sorrell, the chief executive of WPP, who earned £48.1m last year.

On top of the £199m salary, Coates collected £18m in dividend payments.

 

The 50-year-old self-made billionaire began her career as a cashier in betting shops owned by her father, and became managing director of the family’s small chain when she was 22. Having spotted the growing popularity of gambling websites, she decided to launch her own by borrowing £15m against the family’s betting shop estate.

Bet365 was established in 2000 in a portakabin based in a Stoke-on-Trent car park. After purchasing the domain name Bet365.com, Ms Coates built an online betting website that would go on to become one of Britain’s most profitable companies. The firm is based in Stoke but is registered offshore in Gibraltar because of its favourable tax regulations.

 

With more than two million people in the UK either problem gamblers or at risk of addiction, according to recent figures by the Gambling Commission, there is an increasing amount of pressure on the sports industry to curb the influence of betting in football.

 

The mother-of-five launched the business with her brother John Coates, and is the majority shareholder with a 50.01pc take in the firm. According to Forbes, Ms Coates has an estimated personal fortune of $4bn (£3.06bn).

 

 

read more at telegraph.co.uk

Started working in the Casino Industry in 1985, just never managed to leave as yet. Visited 99% of all UK Casinos, seen them all,

Leave a Reply

Your email address will not be published. Required fields are marked *

Optimization WordPress Plugins & Solutions by W3 EDGE
%d bloggers like this: