While gambling operators in the UK are being called out for not doing enough to promote responsible gambling and also not paying their due to Gambling charities, the top executives at British Betting companies are making millions.
Bet365 CEO Denise Coates is amongst the highest paid executives in the country. While last year she took home only £265million. If you think that’s a lot, it’s not. This year she has had a pay raise of about £58 million. This year she would take home £323million.
Bet365 CEO has been making £885,000 a day or £37,000 an hour. Denise Coates got £277million in salary and the remaining are the dividends given the company’s great performance in the last fiscal.
The earlier record for highest-grossing CEO was £265million.
Bet365 is one of the top privately operated online gambling companies in the UK. The company is owned privately by Denise Coates and members of her family which includes her brother John, who is Bet365s joint chief executive. Her father Peter is the company’s chairman.
Good Times Amidst Challenges
Despite betting operators complaining of stricter regulations negatively impacting their revenues it has been going good for Bet365.
Recently, the online betting operator reported annual revenue of about £3 billion for the 2018-19 fiscal ending March 31. Bet365’S annual gaming revenue touched the £2.98 billion mark representing a 10 percent year-on-year increase from what the operator had grossed during 2017-18 fiscal.
CEO Denise Coates attributed the strong performance to investments in developing proprietary game content and launching native apps in several regulated markets.
Recently, Bet365 also won the “SBC Best Sportsbook of The Year” award.