Bet365 boss’s £170m pay cut

A pay cut of £170m still leaves Bet365 chief Denise Coates with a pay package worth £300m.

Coates’ pay reached £300m in the last financial year, despite growth stalling in face of the pandemic. The company founder took home £250m in salary and nearly £100m more in dividends.

Coates (pictured) is one of the UK’s wealthiest women who created Bet365 21 years ago with her brother John; together they took over a betting shop business run by their father. Currently, Coates has around 50 per cent of the Bet365 stock, according to the latest accounts filed by the company.

Revenues were flat at £2.82bn during the pandemic, compared with almost the same in 2019. Operating profit rose 47 per cent to £285.5m, mostly driven by reduced salaries for directors.