Bet365s creator, Denise Coates, experienced a substantial salary decrease this year, with her remuneration dropping by £170 million (around $227 million). Nevertheless, she maintains her position as the UK’s leading taxpayer.
Documents submitted to Companies House indicate that the gaming behemoth achieved revenues of £2.8 billion for the financial year concluding in March 2021, a sum comparable to the preceding year. This yielded a profit of £470 million, with Coates’ fundamental pay constituting approximately £2.5 million. However, her controlling interest in Bet365, surpassing 50%, granted her a supplementary dividend nearing £500 million.
Although her overall compensation diminished by a considerable £170 million in contrast to the prior year, Coates still garnered close to £300 million when factoring in her base salary and dividends. Over the past five years, her accumulated earnings have reached an estimated £1.3 billion.
The firm acknowledged the pandemic’s effects on its activities, stating, “At the period’s outset, we encountered a near-total halt of sporting competitions; however, by the first half’s conclusion, we witnessed the resumption of sports, with the majority of European football leagues successfully concluding their domestic seasons.”
Despite the revival of sporting events, Bet365 documented a 13% reduction in sports wagering revenue. The enterprise also shouldered losses from Stoke City Football Club, which is 93% owned by the Coates family.
Notwithstanding a difficult year, bet365 witnessed its operational earnings surge by a substantial 47% to £286 million, primarily attributed to a choice to diminish executive remuneration.
Established in 2001 by Denise Coates, along with her sibling John, and their father Peter, the Coates clan, proprietors of bet365, remitted an approximated £482 million in levies. This astonishing figure exceeds the tax obligation of the United Kingdom’s second-wealthiest taxpayer, Chris Rokos, by a significant £180 million.
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