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Bet365 boss’s £1.6bn jackpot…and that’s after a pay cut | City & Business | Finance

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The publicity-shy 55-year-old has come a great distance since founding the corporate from a conveyable cabin in a Stoke-on-Trent automotive park in 2000 after spotting web betting’s potential.

Bet365 Group accounts show its highest-paid director, believed to be Ms Coates, had a salary of £213.4million in 2022. She also got over 50 percent of a £100million dividend.

Amazingly, her eye-watering wages were down from nearly £250million in 2021, and an enormous drop on the £421million received in 2020.

Luke Hildyard, director of think tank the High Pay Centre, said: “It’s hopelessly inefficient for such an enormous amount of income to accrue to 1 individual when so many individuals in Britain are going through such hardship.

“There really isn’t any moral or economic justification for such payouts and the inequality and division that they create.”

The windfall comes amid concerns about problem gambling.

Ms Coates, writing within the accounts, said: “The group is committed to delivering a safer environment for its customers and we continued to take a position significantly on this area.”

She highlighted the firm’s “early risk detection system”.

The mum-of-five was also Britain’s biggest taxpayer last yr. Her family paid around £481.7million, the Sunday Times Wealthy List said. They’re near their roots and own Stoke City FC.

Ms Coates once said: “It’s great to point out that what is basically a technology firm could be successful on this area.” She gained a first-class degree in econometrics from Sheffield University.

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