Man, the numbers in these gambling CEO paychecks are just a different reality. Denise Coates, who runs Bet365 from its base in Stoke-on-Trent, just bagged at least two hundred and eighty million pounds for the last year. That’s salary plus dividends, even though the company's actual pre-tax profit got chopped almost in half, falling to three hundred and forty-nine million. The firm's total turnover did go up a bit to four billion, but their costs exploded by over three hundred and twenty-five million as they tried to expand globally.
Breaking down her insane payday, the accounts show a straight salary of one hundred and four million. As the main owner, she also gets a huge chunk of a dividend pot of over three hundred and fifty million, guaranteeing her that quarter-billion-plus total. This is way more than the hundred and fifty million she got last year, but it’s still not her record high from a few years back. Over her whole career running the place, which she famously started from a temporary building in a parking lot, she has pulled out more than two and a half billion from the company.
The profit drop is directly tied to that massive cost surge. Bet365 spent big trying to get into new markets like the United States and South America. At the same time, they had to bail out of China, where online betting is illegal, which came with nearly sixty million in one-off exit costs. They only fully stopped taking bets from Chinese customers right at the end of the financial period, so more expenses from that pullout are probably coming. Despite constant side-eye over her compensation, people in the industry point out she doesn’t use fancy tax dodges and is one of the country’s biggest individual taxpayers. The company also moved one hundred and thirty million dollars into her charitable foundation.
Other financial moves included writing off loans to the football club Stoke City, which is now run by her brother. The filings don’t mention any gossip about possibly selling the business. Instead, they highlight a strategy to focus on regulated places, especially in the US, where they now live in sixteen states. That American push is all thanks to a Supreme Court ruling a few years back that let each state legalize sports betting, completely changing the market over there.
Breaking down her insane payday, the accounts show a straight salary of one hundred and four million. As the main owner, she also gets a huge chunk of a dividend pot of over three hundred and fifty million, guaranteeing her that quarter-billion-plus total. This is way more than the hundred and fifty million she got last year, but it’s still not her record high from a few years back. Over her whole career running the place, which she famously started from a temporary building in a parking lot, she has pulled out more than two and a half billion from the company.
The profit drop is directly tied to that massive cost surge. Bet365 spent big trying to get into new markets like the United States and South America. At the same time, they had to bail out of China, where online betting is illegal, which came with nearly sixty million in one-off exit costs. They only fully stopped taking bets from Chinese customers right at the end of the financial period, so more expenses from that pullout are probably coming. Despite constant side-eye over her compensation, people in the industry point out she doesn’t use fancy tax dodges and is one of the country’s biggest individual taxpayers. The company also moved one hundred and thirty million dollars into her charitable foundation.
Other financial moves included writing off loans to the football club Stoke City, which is now run by her brother. The filings don’t mention any gossip about possibly selling the business. Instead, they highlight a strategy to focus on regulated places, especially in the US, where they now live in sixteen states. That American push is all thanks to a Supreme Court ruling a few years back that let each state legalize sports betting, completely changing the market over there.
