Bet365 chief’s pay reached GBP 265 million last year

Business News

Denise Coates took home more than a third of the betting firm’s annual profit in record salary.

The company’s financial reportage shows that Coates earned GBP 265 million, up from GBP 220 million in the preceding year, comprised of a base salary of GBP 220 million and a GBP 45 million dividend.

Coates owns more than half of the company’s shares and in company with her father and brother the family controls 93 percent of the company, which is not listed on the stock market.

The big pay day comes after a strong year for the company with profits up to GBP 660 million and revenues up 25 percent to GBP 2.7 billion.

Vince Cable MP, the leader of the Liberal Democrats, said Coates’ “eye-watering pay package” was “irresponsible and excessive”.

“In any circumstance it is hard to justify, but more so given the money comes from people struggling with compulsive gambling,” Cable said. “This is an industry body needing tighter regulation. We have started high-stake gaming machines. We now need to move into online gambling, and curbing the advertising around it.”