What's happened
Denise Coates, CEO of Bet365, received at least £280 million in pay and dividends for 2025, despite the company's pre-tax profits falling. The accounts show a rise in revenue but a decline in profits, amid expansion and restructuring efforts. A potential sale valued at up to £9 billion is also under consideration.
What's behind the headline?
Bet365's financials reveal a complex picture. Revenue increased by 9%, driven by growth in sports and gaming, notably benefiting from Euro 2024 and market expansion. However, pre-tax profits declined by nearly 42%, reflecting increased expenses related to restructuring and global expansion. Coates's compensation, including salary and dividends, has surged to around £280 million, highlighting a disconnect between company performance and executive pay. This raises questions about the alignment of incentives, especially as the company considers a potential sale valued at up to £9 billion. The company's strategy to exit China and expand in the US indicates a focus on regulatory compliance and growth, but the profit decline suggests that these efforts are costly and may impact long-term profitability. The high remuneration amid weaker profits could fuel criticism of executive pay practices in the UK, especially in sectors like gambling where social concerns are prominent. Overall, Bet365's case exemplifies the tension between corporate growth, executive compensation, and shareholder value, with the potential sale adding a layer of strategic uncertainty.
What the papers say
The articles from The Independent and The Guardian provide detailed insights into Denise Coates's compensation, highlighting the disparity between her pay and the company's profits. Both sources note her salary of £104 million and dividends, with The Guardian emphasizing her status as Britain's highest-paid woman and her company's expansion into new markets. They also discuss the company's restructuring, including its exit from China and expansion in the US, and the potential sale valued at up to £9 billion. The Guardian offers a critical perspective on her remuneration, pointing out the controversy and the company's tax contributions, while The Independent focuses on the financial figures and the company's growth despite profit declines. The contrasting tone underscores the debate over executive pay in high-growth, high-risk industries like gambling.
How we got here
Denise Coates built Bet365 from a small operation in her home city to one of the world's largest online gambling companies. Her compensation has grown significantly over the years, driven by company revenues and dividends. Despite weaker profits, her pay increased in 2025, coinciding with expansion into new markets and restructuring efforts, including exiting the Chinese market and expanding in the US.
Go deeper
Common question
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Why is Bet365’s CEO’s pay rising despite profits falling?
Bet365's CEO, Denise Coates, received a significant increase in her pay and dividends in 2025, even though the company's profits declined. This raises questions about executive pay in the betting industry and what factors influence these decisions. Below, we explore why her compensation is rising, what it means for shareholders, and whether a sale of Bet365 could be on the horizon.
More on these topics
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Denise Coates CBE is a British billionaire businesswoman, the founder, majority shareholder and joint Chief Executive of online gambling company Bet365.
In October 2019, Forbes magazine estimated Coates's net worth at $12.2 billion. In 2020, earned a sala
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Bet365 Group Ltd is a British online gambling company based in the United Kingdom. It was founded by Denise Coates, who remains the majority shareholder and joint chief executive alongside her brother, John.