Bet365 accounts for the financial year ending on March 28th 2021 have revealed that owner Denise Coates was paid just under £300 million (€362/$401 million) during the first year of the global pandemic.
Coates’ salary and dividends for the period represent a drop of almost £170 million (€205/$227 million) on the previous year as the cancellation of sporting events across the globe limited the company’s revenue from sports betting. However, her pay and dividends for the last five years of reported income now amounts to over £1.3 billion (€1.6/$1.7 billion).
The drop in sports betting activity was mitigated by Bet365’s move into other activities such as slot gaming and online casino products. A surge in online gaming as a result of the pandemic-enforced lockdowns then helped to offset any losses due to the cancellation of live sports.
As a result, the report filed at Companies House shows that the company generated revenues of £2.8 billion (€3.4/$3.7 billion), almost the exact same as the previous year. This led to a profit of £470 million (€567/$628 million) for the financial year.
As the company’s highest-paid director, Coates was paid £250 million (€302/$334 million) for the year while her ownership of Bet365 saw her take more than a 50% share of the company’s £97.5 million (€117.8/$130.5 million) dividend.
The report also reveals that the UK bookmaker made charitable donations of £103 million (€157/$174 million), up 46% on the amount donated in the previous year. The majority of these donations went directly to the Denise Coates Foundation.
Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.