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English businesswoman
Denise Coates (born 26 September 1967) is a British billionaire businesswoman, the founder, majority shareholder and joint chief executive💯 of online gambling company Bet365.[1]
As of July 2024, Forbes estimates Coates's net worth atR$7.7 billion.[2] In 2024, she earned a💯 salary of £422 million and dividends of £48 million.[3] As of 2024, she has been the highest paid chief executive💯 in Britain for several years,[3] and is one of the wealthiest women in Britain, according to the Sunday Times Rich💯 list.[4]
Early life [ edit ]
Denise Coates was born the eldest daughter of Peter Coates, chairman of Stoke City F.C. and💯 a director of Bet365. She earned a first class degree in econometrics from the University of Sheffield.[5]
Business career [ edit💯 ]
While at school, Coates started work in the cashiers' department of Provincial Racing, a bookmaking firm owned by her family.💯 After leaving university, she continued to work at Provincial Racing, as an accountant. Following this, Coates became managing director over💯 the small chain of shops in 1995. That same year, Coates obtained a loan from Barclays to acquire a neighbouring💯 chain.[6]
Bet365 [ edit ]
In January 2000, Coates purchased the domain name Bet365.[7] Bet365 was launched in 2001 as an online💯 betting site. 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 allowed Coates to pay off the loan to RBS.
As of 2024, Bet365 is💯 one of the world's largest online gambling companies, withR$2 billion in revenues and facilitatingR$45 billion in yearly bets. The company💯 also owns a majority stake in Stoke City Football Club. In 2024, Bet365 moved its headquarters from Stoke to Gibraltar💯 because of its favourable regulations. Coates still runs the company alongside her brother, and co-CEO, John Coates.[8]
Coates owns around half💯 of Bet365. Her personal fortune is estimated atR$5.2 billion, as of December 2024.[9]
Coates is unusual amongst high-net-worth individuals in taking💯 the majority of her income as salary rather than dividends. In 2024 she was the highest paid woman in the💯 world.[10] She was the highest taxpayer in Britain from 2024-2024.[11][12] In 2024, Coates was criticised 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."[13] In 2024, 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. It's weird to think that someone so rich would want💯 to get their hands on even more, rather than put it to a more useful purpose."[14] Her salary of £421💯 million in 2024 was 50% higher than it was in 2024, and higher than all FTSE 100 Index CEOs combined.[3]
Denise💯 Coates Foundation [ edit ]
Coates set up the Bet365 Foundation in August 2012. In February 2024 it was renamed Denise💯 Coates Foundation. It is a registered charity under English law[15] and it donated £100 million[16] to twenty UK charities as💯 of 2014. In 2024 the charity donated £1 million to help families in Ukraine.[17]
Charities which have received funds include Oxfam,💯 CAFOD, the Douglas Macmillan Hospice for cancer sufferers in Stoke, and relief programmes for victims caught in the aftermath of💯 Typhoon Haiyan in the Philippines. University scholarships and theatre donations have also been offered.[18][19]
The Foundation pledged £230,000[20] to St Joseph's💯 College, in Trent Vale, for the school's work to help support vulnerable young people in Bo, Sierra Leone.
In March 2024💯 a donation of £235,000 was made by the foundation to The New Vic Theatre in Newcastle-under-Lyme for essential refurbishment and💯 redevelopment.[21][22]
In April 2024 Coates donated £10 million through her foundation to University Hospitals of North Midlands to support staff fighting💯 coronavirus.[23]
Personal life [ edit ]
Coates is married to Richard Smith, and they live in Betchton near Sandbach, Cheshire.[5][13] She drives💯 an Aston Martin with personalised number plates bearing her initials.[7]
They have five children, four of whom were reported in March💯 2014 as being "recently adopted from the same family".[6][9][24]
Honours and awards [ edit ]
In January 2012, Coates was appointed a💯 Commander of the Order of the British Empire (CBE) for services to the community and business.[25] In 2012, she received💯 an honorary doctorate from Staffordshire University.[5]
In 2013, Coates was named as one of the 100 most powerful women in the💯 UK by Woman's Hour on BBC Radio 4.[26]
In 2024, Coates was inducted to the Sports Betting Hall of Fame run💯 by Sports Betting Community (SBC) for her leadership in the gambling industry.[27]
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