Bet365 boss Denise Coates pockets at least 280m despite profit slump

"Denise Coates, the billionaire founder and chief executive of Bet365, received at least £280m in salary and dividends in the year to March 2025, despite a sharp fall in the company's pre-tax profits. The Stoke-on-Trent-based gambling group reported turnover of £4bn for the year, up from £3.7bn in the previous 12 months. Pre-tax profits, however, fell to £349m from £627m a year earlier, reflecting a significant rise in costs as the business reshaped its global operations."

"The fall in profits was driven largely by a £325m increase in expenses as Bet365 expanded its presence in the US and South America while withdrawing from China, where online betting is illegal. The company incurred £59m in one-off restructuring and reorganisation costs linked to its exit from "certain markets". Bet365 has long faced scrutiny over its activities in China, although it has always insisted it complied with local laws."

"Over her career, Coates has now extracted more than £2.5bn in pay and dividends from Bet365, which she famously began building from a portable cabin in a car park in Stoke. Despite criticism over the scale of Coates's pay, industry figures often note that she does not use complex structures to minimise tax and is among the UK's largest individual taxpayers."

Denise Coates received at least £280m in salary and dividends in the year to March 2025. Bet365 reported turnover of £4bn, up from £3.7bn the previous year. Pre-tax profits fell to £349m from £627m, driven by a £325m rise in expenses as the company expanded in the US and South America and withdrew from China. The company incurred £59m in one-off restructuring and reorganisation costs linked to market exits. Bet365 did not fully cease taking bets from Chinese customers until the end of March, potentially shifting further withdrawal costs into the current financial year. Coates has extracted over £2.5bn in pay and dividends over her career. Industry figures note she does not use complex tax-minimising structures and is among the UK's largest individual taxpayers. Bet365 donated £130m to the Denise Coates Foundation during the year.

Read at Business Matters