UK’s Richest Woman Got A $642 Million Payday From Her Betting Empire Last Year

The UK’s richest woman, Denise Coates, has hit the jackpot again.

UK’s Richest Woman

The 52-year-old founder and chief executive officer of online gambling company Bet365 Group pocketed £323 million (NZ$642 million) in salary and dividends, according to a filing from the British online bookmaker.

Her salary of £276.6 million from the closely held firm makes her one of the world’s best-paid bosses – earning more than 2000 times more than UK Prime Minister Boris Johnson, The Guardian reported. It also strengthens her status as the UK’s richest woman, adding to a fortune already among the world’s 500 largest, according to the Bloomberg Billionaires Index.

Founded two decades ago, Bet365 has cashed in on the online sports betting boom. The company posted record revenue of more than £3 billion and increased operating profit by 15 per cent to £758.3 million for the year ended March 31.

Bet365’s net income has soared even as British bookmakers face scrutiny over underage wagering. More than a third of children age 11 to 16 in the UK have spent their own money on gambling, the country’s gambling regulator said in October.

The UK’s richest woman, Denise Coates, has hit the jackpot again.

Her net worth is set to increase to more than US$5 billion through her majority stake in Bet365, according to the Bloomberg index. Along with Bet365, Coates and her family also own Stoke City Football Club.

She is the only woman among the 16 UK-based billionaires in the ranking, which includes Virgin Group founder Richard Branson and Joe Lewis, owner of Tottenham Hotspur Football Club.

Publicity-shy Coates, ranked as the 19th-richest person in the UK, has collected a total of £817m in the last three years, The Guardian reported. 

Bloomberg