Bet365: UK's best-paid manager hits ₤ 323m jackpot
Bet365 employer Denise Coates has actually received a ₤ 323m payday, verifying her position as the UK's finest paid executive.
bet9ja.com
The co-founder of the online betting company was paid a ₤ 277m income plus dividends as the popularity of online gaming continues to grow.
The firm's accounts, external show that in the year to end-March her from ₤ 220m on the previous period.
But the increase comes as the market faced mounting criticism, consisting of over kids betting.
Gambling: How much do we spend in the UK?
bet9ja.com
The independently held business is owned collectively by Ms Coates and members of her direct family, including her sibling John, who is joint president, and her father Peter, the firm's chairman.
Ms Coates made a first-class degree in econometrics - the application of statistical methods to economic data - from Sheffield University before joining the High Street wagering firm, run by her father.
bet9ja.com
She recognized the capacity of online gaming in 2000 and invested in the yohaig code domain name Bet365.com so that she might drive the family organization because direction.
bet9ja.com
Bet365 earned a profit before tax of ₤ 791m in the year, compared with ₤ 661m the year before.
bet9ja.com
The firm paid dividends of ₤ 92.5 m, half of which are thought to have actually gone to Ms Coates, as the owner of about half of Bet365's shares.
bit.ly
The group of companies owns Stoke City Football Club, which made a loss of ₤ 8.7 m in the year.
The High Pay Centre, a think tank which keeps track of earnings, said the timing of the release of the Bet365 results looked "cynical", given it was simply after a general election.
High Pay Centre executive director Luke Hildyard stated: "This looks like negative timing, slipped out directly after a basic election campaign where excess wealth, taxes on the abundant and the vast gap in between those at the top and everyone else have been key issues."
bit.ly
He included: "Business success should be incentivised and rewarded, but a payment a fraction of this size would still pay for a lifestyle beyond the wildest dreams of many people."
Mr Hildyard said there was "clearly scope" for those building up such amounts to pay their workers more or contribute more in taxes.
Child gambling
In October, Cardiff University research study recommended that two-fifths of 11 to 16-year-olds had gambled in the previous year.
The study said this was "especially worrying, given that across the UK, a lot of kinds of commercial gaming are only legal for those aged 18 and over".
bet9ja.com
Fruit devices were the most popular kind of betting, followed by playing cards for cash with buddies and scratchcards.
Dr Graham Moore of the Centre for the Development and Evaluation of Complex Interventions for Public Health Improvement stated at the time: "The proof reveals that individuals who bet previously in life are more likely to become issue gamblers in their adult years."
However, a Betting Commission study in October, external suggested that 11% of kids had gambled within a week of the study being performed.
But in addition, the regulator alerted in July, external of research study that showed links between "issue betting and suicidal thoughts or efforts".
bet9ja.com
Bet365 says it has "a steady dedication to deliver industry-leading methods to player security", consisting of monitoring consumer gaming, and says it will "terminate the [client] relationship if it feels the threat of damage is too expensive".
How much should bosses be paid?
bit.ly
Child gambling a 'growing problem' - study
15 October 2019
1
Bet365: UK's Best-paid Boss Hits ₤ 323m Jackpot
Fern Kirke edited this page 2025-09-22 14:35:49 +00:00