Bet365 boss earns ₤ 469m in a single year
1 April 2021
The one in charge of the gaming company Bet365 has actually been awarded one of the greatest pay packages in UK business history.
The greatest paid director of Bet365 Group - thought to be creator and bulk investor Denise Coates CBE - earned a salary of ₤ 421m in the year ending 29 March.
She also earned ₤ 48m in dividends, taking her total pay to ₤ 469m.
The company said the plans were "appropriate and fair", despite sales falling at the company last year.
But campaign group the High Pay Centre said it was "appallingly inefficient for single individuals to hoard wealth in this promotion code method".
Ms Coates, who established the Bet365 website 20 years ago in Stoke-on-Trent, has been the UK's highest paid employer for a number of years.
She is also one of Britain's wealthiest ladies and a significant benefactor, contributing millions through the Denise Coates Foundation.
Her salary in the year to March was more than 50% greater than the ₤ 277m received in 2019 and suggested she earned practically ₤ 1.2 m every day last year.
That was more than the one in charges of every FTSE 100 business integrated, according to the High Pay Centre.
It came as sales at Bet365 fell 8% to ₤ 2.8 bn as worldwide sporting events were cancelled due to the pandemic. Profits dropped 74% to ₤ 194.7 m.
However, the business said it had not pay or laid off workers as a result of the crisis. It likewise did not make use of the yohaig code furlough scheme.
The business likewise paid ₤ 85m to Ms Coates's charitable foundation.
Ms Coates and her bro John took over the betting business 20 years earlier, which was run by their father. Ms Coates now owns about half of the company.
She has actually previously been explained as among the UK's "most successful women".
Ms Coates achieved a top-notch degree in econometrics and later on trained as an accounting professional within the household firm, developing even more on the knowledge of the then small chain that she got while working part-time throughout high school.
The president's yearly pay package is most likely to be the yohaig code greatest in UK history. Earlier this promotion code month, hedge fund magnate Sir Chris Hohn staked a claim to that title after paying himself ₤ 343m in 2015.
How Bet365's Denise Coates hit her own jackpot
18 December 2019
