A British billionaire businesswoman who is the founder and joint chief executive of online gambling company Bet365 is named for Denise Coates. She purchased the domain name Bet365.com in January 2000. Bet365 has grown into one of the world’s largest online gambling companies, with $2 billion in revenues and facilitating $45 billion in bets in the year through March 2016. In October 2019, Forbes magazine estimated her net worth at $12.2 billion.
Bet365 boss Denise Coates received £323m jackpot
Bet365 boss Denise Coates has received a £323m payday, confirming her position as the UK’s best-paid executive. The co-founder of the online gambling firm was paid a £277m salary plus dividends as the popularity of online gambling continues to grow. The firm’s accounts show that in the year to end-March her salary rose from £220m in the previous period. But the rise comes as the industry faced mounting criticism, including over children gambling. The privately held company is owned jointly by Ms. Coates and members of her direct family, including her brother John, who is a joint chief executive, and her father Peter, the firm’s chairman. Bet365 says it has “an unwavering commitment to deliver industry-leading approaches to player protection”, including monitoring customer gambling, and says it will “terminate the [customer] relationship if it feels the risk of harm is too high”.
Where was Denise Coates born?
On 26th September 1967, Denise Coates was born in England. Her nationality is English and her ethnicity is White. She is the eldest daughter of Peter Coates, chairman of Stoke City F.C. and a director of Bet365. She also has a brother named John Coates. About her education, she earned a first-class degree in econometrics from the University of Sheffield. She is Christian by religion. As of 2019, she celebrated her 52nd birthday with her parents.
How Denise Coates started Bet365?
- Denise Coates purchased the domain name Bet365.com in January 2000 and she spent a year creating a new online betting site.
- Bet365.com was launched in 2001.
- The business borrowed £15 million from RBS against the family’s betting shop estate.
- In 2005 these shops were sold to Coral for £40 million which also paid off the loan to RBS.
- Bet365 has grown into one of the world’s largest online gambling companies, with $2 billion in revenues and facilitating $45 billion in bets in the year through March 2016.
- In addition to this, the company also owns a majority stake in Stoke City Football Club.
- Bet365 moved its headquarters to Gibraltar because of its favorable regulations in 2015.
- She still runs the company alongside her brother, and co-CEO, John Coates.
- She is the majority shareholder with 50.01% of Bet365.
- In 2017, she was criticized for paying herself £217 million, with Mike Dixon, CEO of Addaction, saying “It cannot be right that the CEO of a betting company is paid 22 times more than the whole industry ‘donates’ to treatment.”
- She has also set up the Bet365 Foundation in August 2012, and in February 2016 it was renamed to Denise Coates Foundation which has donated £100 million to twenty UK charities to help support projects home and abroad.
- She was appointed a Commander of the Order of the British Empire (CBE) for services to the community and business in 2012.
- She received an honorary doctorate from Staffordshire University in 2012.
- She was named as one of the 100 most powerful women in the UK by Woman’s Hour on BBC Radio 4 in 2013.
- She was inducted to the Sports Betting Hall of Fame run by Sports Betting Community (SBC) for her leadership in the gambling industry in 2019.
Is Denise Coates Married?
Denise Coates is a married woman. She is married to Richard Smith, and they live “quietly” in a farmhouse in Betchton near Sandbach, Cheshire. Richard Smith is a director at Stoke City Football Club. She drives an Aston Martin with personalized number plates bearing her initials. They have five children, including four that in March 2014 were reported as being “recently adopted from the same family”. As of today, the duo is living a happy life without any disturbances.
What is the Net Worth of Denise Coates?
As of October 2019, Forbes magazine estimated her net worth at $12.2 billion. Her exact salary is under review and it has not been revealed yet. In 2018, it was announced that her salary had increased to £265 million, around 9,500 times more than the average UK salary, with Luke Hildyard of the High Pay Centre commenting, “Obviously, people who build successful companies need to be rewarded for their hard work, but this is an obscene amount of money for someone who is already a billionaire. Her major source of income is from her business career. Overall, she is satisfied with her earnings.
How tall is Denise Coates?
Denise Coates looks very beautiful and young being at the age of fifty-two. She has got a perfect height of five feet six inches matching with her bodyweight of 58 Kg. Her other body measurements are still to get disclosed yet but it will be added once we get information about it. She has an attractive body that every lady wishes to have. Her body build is slim and she maintains her body a lot.