NEWS

UK's richest woman earns ₹4,750 crore in a single year from her betting company

By VARINDIA - 2021-04-03

Denise Coates, the 53-year-old Founder and CEO of Bet365 Group Ltd, pocketed 468.9 million pounds (₹4,750 crore) in pay and dividends, almost 50% more than a year earlier, as per the filing from the online bookmaker.

The Bet365 website was launched in 2000. Bet365’s business has benefited from the growing popularity of online sports betting. The stoke-on-Trent. The company has posted a revenue of 2.8 billion for the financial year ended March 29,2020, and 8% drop from a year earlier as the Covid-19 pandemic curbed sposrts wagering.

Denise Coates had graduated from Sheffield University with a degree in econometrics and trained to become an accountant and later she took over her father’s run business into small chain of betting shop. She become the Managing Director at the age of 22, as per the report. Then she had expanded the business to online, along with Bet365. Sources said, Coats family alos owns a Stoke City Football club.

Bet365’s business has benefited from the growing popularity of online sports betting. The Stoke-on-Trent, England-based company posted revenue of 2.8 billion for the financial year ended March 29, 2020, an 8% drop from a year earlier as the Covid-19 pandemic curbed sports wagering. Operating profit fell by more than half to 194.7 million, partly due to Coates’ salary increasing from 276.6 million.

Founded about two decades ago, Bet365’s business has benefited from the growing popularity of online sports betting. The Stoke-on-Trent, England-based company posted revenue of 2.8 billion for the financial year ended March 29, 2020, an 8% drop from a year earlier as the Covid-19 pandemic curbed sports wagering. Operating profit fell by more than half to 194.7 million, partly due to Coates’ salary increasing from 276.6 million.

As per the Bloomberg Billionaires Index, Coates has earned more than 1.5 billion dollar over the past decade.