Bet365 Boss Earns ₤ 469m in A Single Year
Bet365 employer makes ₤ 469m in a single year
1 April 2021
The one in charge of the gambling firm Bet365 has actually been granted among the greatest pay packages in UK corporate history.
The greatest paid director of Bet365 Group - believed to be creator and bulk investor Denise Coates CBE - earned a wage of ₤ 421m in the year ending 29 March.
She likewise earned ₤ 48m in dividends, taking her total pay to ₤ 469m.
The company said the plans were "appropriate and reasonable", despite sales falling at the firm last year.
But campaign group the High Pay Centre stated it was "appallingly ineffective for single individuals to hoard wealth in this way".
Ms Coates, who established the Bet365 site 20 years ago in Stoke-on-Trent, has actually been the UK's highest paid manager for several years.
She is also one of Britain's wealthiest women and a major benefactor, contributing millions through the Denise Coates Foundation.
Her income in the year to March was more than 50% greater than the ₤ 277m received in 2019 and indicated she made almost ₤ 1.2 m every day last year.
That was more than the one in charges of every FTSE 100 business combined, according to the High Pay Centre.
It came as sales at Bet365 fell 8% to ₤ 2.8 bn as international sporting events were cancelled due to the pandemic. Profits dropped 74% to ₤ 194.7 m.
However, the company stated it had not cut staff pay or laid off employees as a result of the crisis. It also did not make usage of the furlough plan.
The company likewise paid ₤ 85m to Ms Coates's charitable foundation.
Ms Coates and her brother John took over the gambling company 20 years back, which was run by their dad. Ms Coates now owns about half of the business.
She has formerly been explained as one of the UK's "most effective women".
Bet365 employer makes ₤ 469m in a single year
1 April 2021
The one in charge of the gambling firm Bet365 has actually been granted among the greatest pay packages in UK corporate history.
The greatest paid director of Bet365 Group - believed to be creator and bulk investor Denise Coates CBE - earned a wage of ₤ 421m in the year ending 29 March.
She likewise earned ₤ 48m in dividends, taking her total pay to ₤ 469m.
The company said the plans were "appropriate and reasonable", despite sales falling at the firm last year.
But campaign group the High Pay Centre stated it was "appallingly ineffective for single individuals to hoard wealth in this way".
Ms Coates, who established the Bet365 site 20 years ago in Stoke-on-Trent, has actually been the UK's highest paid manager for several years.
She is also one of Britain's wealthiest women and a major benefactor, contributing millions through the Denise Coates Foundation.
Her income in the year to March was more than 50% greater than the ₤ 277m received in 2019 and indicated she made almost ₤ 1.2 m every day last year.
That was more than the one in charges of every FTSE 100 business combined, according to the High Pay Centre.
It came as sales at Bet365 fell 8% to ₤ 2.8 bn as international sporting events were cancelled due to the pandemic. Profits dropped 74% to ₤ 194.7 m.
However, the company stated it had not cut staff pay or laid off employees as a result of the crisis. It also did not make usage of the furlough plan.
The company likewise paid ₤ 85m to Ms Coates's charitable foundation.
Ms Coates and her brother John took over the gambling company 20 years back, which was run by their dad. Ms Coates now owns about half of the business.
She has formerly been explained as one of the UK's "most effective women".