Bet365 boss takes 43% pay cut as employee numbers swell

Denise Coates CBE, chief executive of online gambling firm Bet365, was paid £94.7m in salary in the year to 31st March 2024, according to recently released financial results for the company.

However, with dividends of approximately £63m added to this, Coates’ final package was around £157.7m, maintaining her spot as one of the richest women in the UK.

This was compared to the £220m salary Coates received in the previous financial year.

The financial results showed that Bet365 Group grew from an average of 7,177 employees over the 52 week period ended 26th March 2023, to 8,673 in the 53 weeks to 30th March 2024.

This was a headcount increase of 1,496; however, the overall staff costs – including wages, social security and pension costs – dropped from £785.9m to £660.5m.

The total compensation of the directors and managers considered to be the key management personnel of the group – including salaries and other short-term benefits – was £144.2m, compared to £351.5m in 2023.

The Bet365 report stated: “Employees of the Group are key assets of the business.

“As a Group our policy is to demonstrate that all employees, regardless of role, seniority or where they are located in the world, feel an integral and valued part of our business.