What is the annual salary of the bet365 CEO?

Last year, the head of the billion-euro gambling company bet365 earned as much as around 150 Bundesliga footballers put together. According to experts, the average annual salary of Bundesliga professionals is currently around 1.5 to 2 million euros. But why did Denise Coates recently earn such a generous salary?

The head of the British gambling group bet365 was also one of the absolute top earners in 2023. On average, Denise Coates earned more than one million euros every working day of the year. The record salary is particularly surprising in view of the fact that bet365 recently made a loss totalling the equivalent of almost 70 million euros.

Denise Coates is one of the UK's richest women

First of all, it should be mentioned that Denise Coates is not 'just' the CEO, but also the founder of bet365. In January 2000, the then 32-year-old entrepreneur purchased the domain "bet365.com". In the years that followed, the company continued to grow, becoming the most successful gambling company in the UK. Denise Coates is still the majority shareholder in the listed company.

In total, Coates received a salary of £270 million last year. This is equivalent to around 314 million euros. By way of comparison, experts estimate that the average German Bundesliga player earns between 1.5 and 2 million euros a year. The top earners at record champions FC Bayern even take home around €20 million a year.

It should be noted, however, that the €270 million salary is a combination of salary and dividend payments. Their pure salary in 2023 will be 'only' £220.7 million. In 2022, Coates will earn around £7 million less.

Bet365 boss gets record pay despite huge losses

The founder and CEO's triple-digit million-pound salary is particularly interesting given that bet365 made a loss of the equivalent of €69 million in 2023. The high loss is explained by general cost increases. The bet365 boss is planning further improvements in the current year to ensure that bet365 remains attractive in the future. But how can the bet365 boss pay herself such a high salary when the company is losing millions?

In fact, Denise Coates' total salary in 2023 was still relatively moderate. In 2020 and 2021, for example, Coates earned significantly more. To be precise, she paid herself a total of around £300m in 2021 and as much as £466m in 2020. With an estimated fortune of just under GBP 9 billion, the Coates family is one of the 20 richest families in the UK.

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