Bet365 boss Denise Coates takes home £150m despite taking huge pay cut
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Bet365 boss Denise Coates, one of the UK’s highest-paid executives, took home over £150m last year, despite giving herself a significant pay cut amid rising profits. The latest Companies House accounts for the Stoke-based firm reveal that its top-earning director understood to be Ms Coates, received a salary of £94.7m for the year ending March 2024.
This is a drop from the £220m she pocketed the previous year, which drew heavy criticism from organisations such as the High Pay Centre. The accounts also disclose a £110m dividend payout to shareholders for the year, with Ms Coates likely to receive around £64m due to her stake in the company.
Ms Coates, whose father and brother co-chair Stoke City Football Club, has been instrumental in transforming the family bookmakers into a multibillion-pound business over the past two decades. The recent accounts show that the company's turnover increased to £3.72bn for the year, up from £3.41bn the previous year.
It also reported a pre-tax profit of £596.3m, a significant turnaround from a loss of £72.6m the year before. However, in April last year, the company was hit with a £582,120 fine for failures related to anti-money laundering measures and protection of vulnerable customers.
