Bet365 boss takes home UK’s biggest ever pay packet, despite profits slump

Finance News

Bet365 Group has seen its record-breaking results streak come to an end, after revenue fell to £2.8 billion.

The company’s accounts for the 53 weeks to March 29, 2020, reveal that the firm’s turnover fell by eight per cent, down from £3.06 billion in 2019.

Operating profit for the group, which includes bet365 and Stoke City Football Club also took a major hit, of almost 75 per cent, falling to £194.7 million from £758.3 million in 2019. This includes a £87.2 million loss from the football club.

Denise Coates, CEO of Bet365, has been awarded what is thought to be the largest salary in UK corporate history. The accounts show that Coates was paid of wage of £421m for the year ending March 29. Added to this was a payment of £48m in dividends, taking her salary to £469m.

Denise Coates is the UK’s largest taxpayer for the second year running, according to the latest annual Sunday Times Tax List. She and her family, who are worth more than £7bn, had a tax liability of £573 million last year,