Bet365.com has released their accounts of the house, describing the company’s financial figures. The biggest highlight of the account was the salary of the head of the company Denise Coates. Denise, despite slashing a huge chunk of payroll, managed to earn close to £300 million!
This comes after Denise slashed £171 million from her yearly salary. In the previous year, she received £421m which plummeted to £250m this year. Her net gains of close to £300 million, comes from her £250m salary and getting 50% of the company’s £97.5 million worth dividend.
The epidemic had a strange effect on the betting industry. Although, the internet penetration and national governments openness towards gambling, provided lucid ground for the industry’s expansion. The pandemic and lockdowns made popular sporting events scarce. This had a stark impact on gambling industry’s financial health. To maintain the company’s growth rate constant Denise sacrificed a huge chunk of her salary.
The revenue figures for the company remained constant this year. However, the company’s operating profit increased by 47%. The major jump on this profit is attributed to paycut received by the company’s directors.
Denise is the co-founder as well as the joint chief executive of Bet365.com. Her brother is the other joint chief executive. Bet365.com is one of the most popular online gambling platforms. Denise is the representative of women entrepreneurship and is one of the richest women in the United Kingdom.