Thriving Online Gambling Business Sees CEO of Bet365 Win Big with $423 Million Payout
Now, most of the time, you’ll hear us talking about all the massive wins we’ve heard about players winning jackpots at some of your favourite UK online casinos or on your most played slot machines all over the world. However, today we’re digging into another type of big win. We’ve just heard the online gambling giants, Bet365, recently paid their CEO a massive $424 million last year alone, making her the highest-paid chief executive of any British company.
Bet365 Pays CEO More Than $1 Billion in Three Years
Bet365, a company based in Stoke-on-Trent, made a total profit of approximately $1 billion before taxes in 2018 from gambling, based on accounts that were filed at Companies House. 2018 saw the co-founder and CEO, Denise Coates, paid a whopping salary of $363 million (plus dividends).
This breaks all previous records for an executive-level pay in Britain with this latest figure topping her previous records of $284 million in 2016 and $347 million in 2017. All this means that Coates has earnt more than $1 billion over the last three years, which is truly astonishing. Now we’re eager to see where this figure could land in 2020.
More About Denise Coates
A little bit of background information on Denise Coates for those that are unfamiliar with this name. Coates is just one of the UK’s most prosperous entrepreneurs. She is a co-founder (with her brother John Coates) of Bet365, which is an online casino and sports betting company that was founded by the pair in 2000.
Thanks to Bet365 being privately owned, the co-CEO has amassed $12.2 billion in wealth, plus she owns about half of the shares for the company being the co-founder. The extreme salary and record-breaking executive payout she received has sparked a dispute amongst many, as it was announced not too long after a general election where the opposing Labour Party pushed to challenge the imbalance and the United Kingdom's billionaire club.
The Bet365 Group owns Stoke City Football Club, which reported a $20 million loss in the financial year up to May – its first reporting period after being relocated to a lower tier from the Premier League.