Ceo Bet365
The co-founder and boss of the online gambling operator bet365, Denise Coates, has once again received a massive payment.
The success story of £5.4bn-per-year online gambling company Bet365 is nothing to do with luck and everything to do with technology. Kathleen Hall talks to CIO Martin Davies about how IT has played. Denise Coates, the multibillionaire founder of the gambling company Bet365, paid herself £323m last year. The sum is the highest amount paid to the chief executive of a British company and breaks. John Fitzgerald Coates (born January 1970), is an English billionaire businessman and the joint chief executive (CEO) of online gambling company bet365 and joint-chairman of Stoke City.
According to the gambling company’s most recent financial accounts, the salary of Ms Coates, who has been the firm’s “highest-paid director” has been boosted to £277 million, dividends excluded. She also got a 50% share of the firms’ overall payout of £92.5 million, which boosts its total payday to £323.25 million in 2019.
The payment that the Chief Executive Officer of bet365 received was about £58 million higher than the one she got in 2018. It is considered the highest amount ever paid to a boss of a British gambling firm after breaking last year’s record of £220 million in salary and £45 million in dividends. This year’s payment received by the 52-year-old Ms Coates equals 9,500 times the average salary of the UK.
The amount received by bet365’s boss in payments in the last three years alone is worth £817 million. Earlier in 2019, the online gambling company’s CEO was ranked the 19th most affluent person in the UK. Her net worth is £6.9 billion. After recognising the massive potential of online gambling two decades ago, Ms Coates has turned bet365 into one of the leading gambling operators on a global scale.
bet365 Faces Strong Criticism for Unexplained Delay of Payment Details
The announcement fuelled controversial reactions due to its timing, with Ms Coates facing some criticism for delaying the public release of the details of her payment so that the publication came after the country’s general election. The financial accounts’ information had been expected to be filed almost a month ago – on or around November 20th. However, they were delayed with no reason for that being provided.
Considering the recent criticism faced by the UK gambling industry over being irresponsible to players, including children, the wave of anger triggered by the Ms Coates’ massive payment is understandable.
In fact, bet365 has been considered one of the most secretive gambling operators. It is currently among the leading online gambling companies, with its latest sales records having reached almost £3 billion. The firm is currently owned and run by Ms Denise Coates and her brother John, along with the finance director Will Roseff.
Despite being one of the largest employers in Stoke-on-Trent, owning Stoke City F.C. and donating about £85 million to charities in 2019, bet365 has been facing fierce criticism. The gambling operator has been blamed for literally bombarding sports fans with advertisements that could make it harder for people to control their gambling.
In the last few years, many UK gambling companies have been criticised for their aggressive marketing campaigns on television and in the social network. Because of that, earlier this year a number of gambling firms voluntarily agreed to stop advertising their services during live sports events before the 9:00 PM watershed.
- Author
Olivia Cole
Ceo Betterment
| Born | John Fitzgerald Coates January 1970 (age 51) |
|---|---|
| Nationality | English |
| Education | Bristol University |
| Occupation | Businessman |
| Known for | Joint CEO of bet365 Joint chairman of Stoke City |
| Net worth | US$4.6 billion (October 2020)[1] |
| Parent(s) | Peter Coates |
| Relatives | Denise Coates (sister) |
John Fitzgerald Coates (born January 1970), is an English billionaire businessman and the joint chief executive (CEO) of online gambling company bet365 and joint-chairman of Stoke City.
Early life[edit]
John Fitzgerald Coates was born in January 1970,[2] the son of Peter Coates, chairman of Stoke City F.C. and director of Bet365. He attended Bristol University where he studied Law.[1]
Business career[edit]
Coates started his career as a lawyer. In 2001, after selling some of their father's betting shops to large bookmaker Coral, his sister convinced him to join her in launching bet365.
Bet365[edit]
John and his sister Denise Coates[3] are co-CEOs of UK-based bet365, an online gambling company, of which he owns a quarter.[4]
Ceo Bet365 Jobs
Bet365 Foundation[edit]
Ceo Bet365 Twitter
John helped Denise set-up the Bet365 Foundation in August 2012 and it has donated £100 million[5] to 20 UK charities to help support projects home and abroad.
Charities which have received funds include Oxfam, CAFOD, the Douglas Macmillan Hospice for cancer sufferers in Stoke, and relief programmes for victims caught in the aftermath of Typhoon Haiyan in the Philippines. University scholarships and theatre donations have also been offered.
Stoke City[edit]
In July 2015 Coates was appointed as vice-chairman at Stoke City F.C. where his father is chairman.[6] In September 2020, Coates was appointed as joint-chairman alongside his father.[7]
Personal life[edit]
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He is married, with two children, and lives in Stoke-on-Trent.[1]
References[edit]
Bet365 Ceo House
- ^ abc'Forbes profile: John Coates'. Forbes. Retrieved 14 October 2020.
- ^'HILLSIDE (LEISURE) LIMITED - Officers (free information from Companies House)'. beta.companieshouse.gov.uk. Retrieved 2019-09-05.
- ^Bowers, Simon (2012-06-08). 'Denise Coates: the hidden 24/7 woman behind Bet365'. the Guardian. Retrieved 2016-05-14.
- ^Torrance, Jack (2015-03-03). 'More people became billionaires last year than ever before'. www.managementtoday.co.uk. Retrieved 2016-05-14.
- ^Bowers, Simon (2014-07-11). 'Bet365's Denise Coates sets up £100m charity foundation'. the Guardian. Retrieved 2016-05-14.
- ^Spinks, Martin (2015-07-02). 'Stoke City: John Coates appointed vice chairman'. Stoke Sentinel. Retrieved 2016-05-14.
- ^'Board Announcement'. Stoke City. Retrieved 9 September 2020.