Bet365 gambling boss earns £213m in one year

The brag of gambling steadfast Bet365 was paid much than £200m successful conscionable 1 year, which is 1 of the biggest salaries ever awarded successful the UK.

The highest paid manager of Bet365 Group, believed to beryllium laminitis Denise Coates, earned a wage of £213.4m successful the twelvemonth to March 2022.

She was besides entitled to astatine slightest fractional of £100m successful dividends, contempt a autumn successful profits.

Bet365 did not instantly respond to the BBC's petition for comment.

But run groups specified arsenic the High Pay Centre deed retired astatine the announcement, arguing it served arsenic a reminder that "too overmuch [money] is going to excessively fewer people" successful the UK economy.

Its spokesperson Andrew Speke said: "It shows if the authorities wanted to supply greater enactment to those struggling and summation the wage of striking nationalist assemblage workers facing existent wage cuts, expanding taxation connected precocious incomes and wealthiness would beryllium 1 of the astir effectual ways of backing this."

Labour MP Carolyn Harris, who co-chairs a cross-party parliamentary radical examining gambling-related harm, said that losses made by users arsenic prices are rising "are paying for the immense salaries of gambling bosses".

She called connected the authorities to bring guardant its achromatic insubstantial connected gambling and update laws that person been successful spot for decades.

Ms Coates founded the Bet365 website successful a portable gathering successful Stoke-on-Trent much than 20 years ago. She is thought to beryllium 1 of Britain's richest women and among the best-paid bosses successful the world.

After grooming arsenic an accountant she helped physique the radical into 1 of the biggest online gambling companies from her father's bookmaking business. Her member is besides co-chief executive.

According to the latest company accounts, Ms Coates received a wage of astir £250m wage the twelvemonth before.

Piling wealth into efforts to grow internationally saw the Bet365 group's profits dive.

Bet365 made a nett earlier taxation of £49.8m for the year, taking into relationship a £26.2m nonaccomplishment from its ownership of Stoke City Football Club, overmuch little than the £469m nett seen successful 2021.

The radical besides saw its wage measure spell up significantly, with much than 6,000 employees present connected the payroll.

In the twelvemonth to 29 March 2022, the concern turned implicit £2.9bn successful total, an summation of 2% compared with the twelvemonth before. While income from sports betting fell, online games revenues jumped by 25% during the year.

Its study besides describes however it invested heavy successful advertizing and IT systems, having antecedently benefitted from a roar during the pandemic.

Charitable donations of astir £100m were made done the Denise Coates Foundation.

The eldest of 4 children, Ms Coates worked portion clip for the household steadfast portion inactive astatine school, earlier gaining a first-class grade successful econometrics.

She has antecedently been described arsenic 1 of the UK's "most palmy women", spotting the accidental that online platforms presented.

In a uncommon interrogation with a section newspaper, Ms Coates erstwhile said: "I was convinced aboriginal connected that gambling would enactment good connected the internet. It is private, accessible and allows you to contiguous a immense scope of betting opportunities to customers."