bet365 – One of the Most Profitable Businesses in the UK
The Sunday Times, the sister outlet of The Times, has published the Rich List of 2021. According to Robert Watts’s review, the number of billionaires in the UK is 171. Out of 250 richest people in the country, the Coates lead by Denise Coates is, the founder of bet365, is 17th.
Denise Coates, John Coates, and Peter Coates’s combined net worth is 4.4bln GBP increasing by 1.3bln GBP compared to the last year.
The family not only owns 93% of the betting and gaming giant’s shares but also has more than 88.5mln GBP dividends.
The outlet concluded that with Denise Coates’s additional incomes bet365 is worth approximately 7.1bln GBP. Interestingly, as the Co-Chief Executive Officer of the company, Ms. Coates receives the biggest annual paycheck in the UK, 421mln GBP.
Denise Coates managed to build one of the biggest betting corporations in the world by inheriting her family’s wagering shops and investing the profits in bet365’s online betting platform.
bet365 remains one of the most recognizable iBetting brands in English-speaking countries, has offices outside of the UK, and employs more than 5k people.
Of course, the pandemic-related restrictions affected bet365. After the first quarter of 2021, the company noted that bet365’s yearly growth span is over resulting in a decrease of earnings before interest and taxes by 194mln GBP.
The major sports events were canceled or postponed during the last year which in turn affected the betting companies’ performance reports.