Bet365 founder Denise Coates found herself getting a substantial payday from the company in 2022, earning a salary of £213.4 million in addition to £100 million in stock dividends.
The payout comes despite a drop in company profits, and is actually a 15% drop in pay from the £250 million salary she took in the year prior. For the year, bet365 had a pre-tax profit of £49.8 million, due largely to losses incurred from its ownership of Stoke City FC. The company had a £469 million profit in 2021.
Handle for 2022 was £2.9 billion, up 2% from the year prior. It had revenues of £2.85 billion, with gaming revenue up 25%.
Coates founded bet365 in 2000, and the brand has become one of the largest gambling brands in the world.
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Comments
That pay package is insane. Her salary is over 4x the company's profits for the year. Insanity...
Well I suppose it is an astronomical amount of money.. but at least she is presumably paying tax on that salary, unlike many business owners that leave the money in the company or as equity and pay nothing.
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