Denise Coates Cuts Pay Amid Profit Surge

Denise Coates, the UK's highest-paid woman and co-CEO of Bet365, took a 45% pay cut last year but still earned over £150 million in salary and dividends as the company's profits soared to £596 million. Her compensation included a salary of £94.7 million and dividends of approximately £64 million from her 58% stake in the company, despite a significant decrease from her previous year's earnings of £270 million. Bet365's revenue increased from £3.4 billion to £3.7 billion, largely due to cost-cutting measures and a one-off gain from asset investments. The company also expanded its workforce by 20%, growing from 7,567 to 9,145 employees. Coates’ family wealth is estimated at nearly £8 billion, highlighting her successful business acumen since founding Bet365 in a portable building in 2000. Despite the pay cut, her earnings remain substantially higher than many global CEOs, emphasizing the disparity in executive compensation.