Bet365’s CEO, Denise Coates, experienced a significant salary reduction of nearly £130m as the company reported a pre-tax profit of £596.3m for the year ending 31 March 2024, according to recently filed accounts with Companies House. Coates, whose father founded the Stoke-on-Trent-based business, received £94.6m in salary during the year—down from £220.6m the previous year.
In addition to her reduced salary, Coates benefited from a portion of the £110m dividend issued by the company, an increase from the £100m distributed in the prior 12 months. Her annual salary, which peaked at £421m in 2020, has now exceeded £1bn over the past five years.
The latest accounts show Bet365 rebounded from a pre-tax loss of £72.5m in the previous year to post a turnover increase from £3.41bn to £3.71bn. The board attributed the profit recovery largely to increased fair value gains on current asset investments.
A statement from the board highlighted ongoing investments in Bet365’s trading platform, expanding global in-play and pre-match market offerings. Enhancements to the company’s visual sports products included updates to soccer coverage and the addition of American football and baseball. Bet365’s match live service also expanded with basketball, offering customers enriched real-time sports data and in-play options.
Bet365 increased its workforce significantly, growing from 7,567 to 9,145 employees during the year. Looking forward, the company remains optimistic, noting that changes in the global gambling and leisure industries could provide opportunities to further strengthen its worldwide presence.
In addition to her reduced salary, Coates benefited from a portion of the £110m dividend issued by the company, an increase from the £100m distributed in the prior 12 months. Her annual salary, which peaked at £421m in 2020, has now exceeded £1bn over the past five years.
The latest accounts show Bet365 rebounded from a pre-tax loss of £72.5m in the previous year to post a turnover increase from £3.41bn to £3.71bn. The board attributed the profit recovery largely to increased fair value gains on current asset investments.
A statement from the board highlighted ongoing investments in Bet365’s trading platform, expanding global in-play and pre-match market offerings. Enhancements to the company’s visual sports products included updates to soccer coverage and the addition of American football and baseball. Bet365’s match live service also expanded with basketball, offering customers enriched real-time sports data and in-play options.
Bet365 increased its workforce significantly, growing from 7,567 to 9,145 employees during the year. Looking forward, the company remains optimistic, noting that changes in the global gambling and leisure industries could provide opportunities to further strengthen its worldwide presence.
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