Business

Bet365 boss takes £57 million pay rise

Bet365 boss Denise Coates
Bet365 boss Denise Coates

THE UK's highest-paid boss has kept her place at the top of the charts after pocketing a £57 million basic pay rise last year.

Denise Coates, the chief executive of Bet365, took home a basic salary of almost £277m in the year ended March 2019.

It comfortably makes her the highest-paid boss in the country, and comes on top of the around £45m she is believed to have received in dividends as a major shareholder.

Ms Coates, 52, founded the online gambling company in the early 2000s after spotting the potential of internet betting to revolutionise the industry.

She owns around half of the shares in the company, according to Forbes, which places her 244th in the list of the world's billionaires, with a net worth of $12.2 billion (£9.3bn).

Gamblers placed £64.5bn in bets with the company over the financial year, nearly a quarter up on the year before, Bet365's accounts show.

Turnover hit almost £3bn, while the company took £800m in pre-tax profits.