Bet365 Reports Nearly £600M Profit

Denise Coates, chief executive of Bet365, received a salary of £94.7 million for the financial year ending March 31, 2024, a significant decrease from £220.7 million the previous year, amidst the company's return to profitability with pre-tax profits of £596.3 million. Total revenues for the company also rose from £3.41 billion to £3.72 billion, driven by an 11% increase in sports revenues, partly due to expansion into newly regulated U.S. markets. Coates is set to receive approximately £64 million from a £110 million dividend, reflecting her 58% shareholding in the company. While her total earnings for the year amounted to more than £150 million, she has faced criticism for her high pay amidst ongoing concerns about the gambling industry's impact on society. Bet365 continues to grow, increasing its workforce significantly from 7,567 to 9,145 employees over the year. The Coates family remains among Britain's wealthiest, with a combined net worth of around £7.5 billion.