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Bet365: UK's best-paid boss sees pay rise to £265m
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Image captionDenise Coates was awarded a CBE in 2012 for services to the community and business
The UK's best-paid boss, co-founder of online gambling firm Bet365 Denise Coates, has received another bumper pay rise.
The firm's accounts show compensation, for the firm's "highest paid director" rising to £265m including dividends.
this is depressing you'd think in the 21st century are highest paid boss would be doing something useful like flying cars or spaceplanes on cancer cures not basically being a parasite.
gambaling sites like bookie shops are not harmless
Bet365, now the largest private sector employer in Stoke, has millions of customers worldwide. It offers sports betting, poker, casino, games, and bingo. The accounts showed that the firm's revenues grew by 25% in the year to the end of March and operating profit was up by 31%.
Increasing criticism
While the online gambling sector has ballooned in recent years, it has also come in for increasing criticism over its impact on some customers who have become addicted or accrued large debts.
Labour's deputy leader Tom Watson recently described gambling as a "public health emergency".
Bet365 said it was continuing to develop strategies to identify gamblers at risk and to "help customers bet responsibly".
However, Luke Hildyard, spokesman for the High Pay Centre, which campaigns against excessive executive remuneration, said "betting companies are not exactly a force for good in the world".
"There is an increasing perception that big business only serves the interests of an elite few - a billionaire taking hundreds of millions more from a company that profits, in part, from other people's addictions does nothing to dispel that perception," he said.
Ms Coates, 51, lives in Cheshire with her husband, Richard Smith, who also serves as the firm's property director, and their children.
The group owns Stoke City Football Club, which made a loss of £21m and in 2017 the group paid £75m into its charitable fund, set up in Ms Coates' name.
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Image captionDenise Coates was awarded a CBE in 2012 for services to the community and business
The UK's best-paid boss, co-founder of online gambling firm Bet365 Denise Coates, has received another bumper pay rise.
The firm's accounts show compensation, for the firm's "highest paid director" rising to £265m including dividends.
this is depressing you'd think in the 21st century are highest paid boss would be doing something useful like flying cars or spaceplanes on cancer cures not basically being a parasite.
gambaling sites like bookie shops are not harmless
Bet365, now the largest private sector employer in Stoke, has millions of customers worldwide. It offers sports betting, poker, casino, games, and bingo. The accounts showed that the firm's revenues grew by 25% in the year to the end of March and operating profit was up by 31%.
Increasing criticism
While the online gambling sector has ballooned in recent years, it has also come in for increasing criticism over its impact on some customers who have become addicted or accrued large debts.
Labour's deputy leader Tom Watson recently described gambling as a "public health emergency".
Bet365 said it was continuing to develop strategies to identify gamblers at risk and to "help customers bet responsibly".
However, Luke Hildyard, spokesman for the High Pay Centre, which campaigns against excessive executive remuneration, said "betting companies are not exactly a force for good in the world".
"There is an increasing perception that big business only serves the interests of an elite few - a billionaire taking hundreds of millions more from a company that profits, in part, from other people's addictions does nothing to dispel that perception," he said.
Ms Coates, 51, lives in Cheshire with her husband, Richard Smith, who also serves as the firm's property director, and their children.
The group owns Stoke City Football Club, which made a loss of £21m and in 2017 the group paid £75m into its charitable fund, set up in Ms Coates' name.
Related Topics
Share this story About sharing
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