Bet365 Boss Earns ₤ 469m in A Single Year
Bet365 employer earns ₤ 469m in a single year
1 April 2021
The boss of the betting company Bet365 has actually been granted one of the greatest pay packets in UK corporate history.
The greatest paid director of Bet365 Group - thought to be creator and majority shareholder Denise Coates CBE - earned an income of ₤ 421m in the year ending 29 March.
She also earned ₤ 48m in dividends, taking her total pay to ₤ 469m.
The company stated the arrangements were "suitable and reasonable", despite sales falling at the firm in 2015.
But project group the High Pay Centre stated it was "appallingly ineffective for single individuals to hoard wealth in this method".
Ms Coates, who founded the Bet365 website twenty years back in Stoke-on-Trent, has actually been the UK's highest paid boss for a number of years.
She is also one of Britain's most affluent ladies and a major benefactor, donating 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 made practically ₤ 1.2 m every day last year.
That was more than in charges of every FTSE 100 company integrated, 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 plunged 74% to ₤ 194.7 m.
However, the business said it had not cut staff pay or laid off employees as a result of the crisis. It also did not utilize the furlough plan.
The business also paid ₤ 85m to Ms Coates's charitable foundation.
Ms Coates and her brother John took control of the betting company twenty years back, which was run by their father. Ms Coates now owns about half of the company.
She has previously been referred to as one of the UK's "most successful ladies".
Bet365 employer earns ₤ 469m in a single year
1 April 2021
The boss of the betting company Bet365 has actually been granted one of the greatest pay packets in UK corporate history.
The greatest paid director of Bet365 Group - thought to be creator and majority shareholder Denise Coates CBE - earned an income of ₤ 421m in the year ending 29 March.
She also earned ₤ 48m in dividends, taking her total pay to ₤ 469m.
The company stated the arrangements were "suitable and reasonable", despite sales falling at the firm in 2015.
But project group the High Pay Centre stated it was "appallingly ineffective for single individuals to hoard wealth in this method".
Ms Coates, who founded the Bet365 website twenty years back in Stoke-on-Trent, has actually been the UK's highest paid boss for a number of years.
She is also one of Britain's most affluent ladies and a major benefactor, donating 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 made practically ₤ 1.2 m every day last year.
That was more than in charges of every FTSE 100 company integrated, 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 plunged 74% to ₤ 194.7 m.
However, the business said it had not cut staff pay or laid off employees as a result of the crisis. It also did not utilize the furlough plan.
The business also paid ₤ 85m to Ms Coates's charitable foundation.
Ms Coates and her brother John took control of the betting company twenty years back, which was run by their father. Ms Coates now owns about half of the company.
She has previously been referred to as one of the UK's "most successful ladies".