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| Bet365 boss takes £126m pay cut despite profit | Bet365 boss takes £126m pay cut despite profit |
| (about 4 hours later) | |
| Denise Coates CBE, chief executive of the gambling firm Bet365 and one of Britain's wealthiest women, took a 45% pay cut last year and still received a package worth over £150m in 2024. | Denise Coates CBE, chief executive of the gambling firm Bet365 and one of Britain's wealthiest women, took a 45% pay cut last year and still received a package worth over £150m in 2024. |
| The highest-paid director of Bet356 Group, believed to be Ms Coates, was paid £94.7m for the year ending March 2024 compared to £221m received the previous year. | The highest-paid director of Bet356 Group, believed to be Ms Coates, was paid £94.7m for the year ending March 2024 compared to £221m received the previous year. |
| She was also due more than half of the dividends paid by the UK-based group - around £63m of the £110m dividend in the year, which was up from £100m. | She was also due more than half of the dividends paid by the UK-based group - around £63m of the £110m dividend in the year, which was up from £100m. |
| The Stoke-on-Trent business has seen a rapid rise, much of which Ms Coates has been credited with. | The Stoke-on-Trent business has seen a rapid rise, much of which Ms Coates has been credited with. |
| Bet365 is the largest employer in the Stoke area. The group reported a pre-tax profit of £596.3m for the year, compared with a loss of £72.6m the year before when it was expanding in regions like North America. | Bet365 is the largest employer in the Stoke area. The group reported a pre-tax profit of £596.3m for the year, compared with a loss of £72.6m the year before when it was expanding in regions like North America. |
| The expansion appears to be paying off, with the group's revenue growing by 9% to £3.7bn. Reduced executive pay also helped profits. | The expansion appears to be paying off, with the group's revenue growing by 9% to £3.7bn. Reduced executive pay also helped profits. |
| Local turned global | Local turned global |
| Bet365.com is one of the world's biggest online gambling websites. | Bet365.com is one of the world's biggest online gambling websites. |
| Ms Coates founded the Bet365 website in a portable building in a Stoke-on-Trent car park more than 20 years ago. | Ms Coates founded the Bet365 website in a portable building in a Stoke-on-Trent car park more than 20 years ago. |
| She has previously been described as one of the UK's "most successful women" and among the best-paid executives in the world. | She has previously been described as one of the UK's "most successful women" and among the best-paid executives in the world. |
| Ms Coates achieved a first-class degree in econometrics and later trained as an accountant within the family firm. | Ms Coates achieved a first-class degree in econometrics and later trained as an accountant within the family firm. |
| She helped build the group into one of the biggest online gambling companies from her father's bookmaking business. | She helped build the group into one of the biggest online gambling companies from her father's bookmaking business. |
| Her brother John Coates, who is 55 years old, is a co-chief executive of Bet365 and joint-chairman of Stoke City football club. | Her brother John Coates, who is 55 years old, is a co-chief executive of Bet365 and joint-chairman of Stoke City football club. |
| She is often credited as the driving force behind the business and became managing director of her family's chain of betting shops at the age of 22. | She is often credited as the driving force behind the business and became managing director of her family's chain of betting shops at the age of 22. |
| The Coates family has a combined net worth of around £7.5bn, which put them in 20th position in last year's Sunday Times Rich List. |