Denise Coates Biography
Denise Coates CBE is a British millionaire entrepreneur who founded, owns a majority stake in, and is the joint CEO of the online gambling company Bet365.
How old is Denise Coates? – Age
She is 54 years old as of 26 September 2021. She was born in 1967 in Stoke-on-Trent, United Kingdom.
Denise Coates Family – Education
She is the eldest daughter of Peter Coates, the chairman of Stoke City Football Club and a Bet365 director. She graduated from the University of Sheffield with a first-class econometrics degree.
Denise Coates Husband
She is married to Richard Smith, and the couple lives in Betchton, Cheshire, near Sandbach. They have five children, four of whom were reported as “recently adopted from the same family” in March 2014.
Who created Bet365? – Bet365
Coates bought the domain name Bet365.com in January 2000. Bet365.com began as an online betting site in 2001. RBS granted the company a £15 million loan secured by the family’s betting shop estate. These stores were sold to Coral for £40 million in 2005, allowing Coates to pay off his RBS loan.
With $2 billion in revenue and $45 billion in annual bets, Bet365 is one of the world’s largest online gambling enterprises as of 2016. Stoke City Football Club is another company in which the company owns a majority share. Because of Gibraltar’s favorable rules, Bet365 relocated its headquarters from Stoke in 2015. Coates still operates the company with her brother, John Coates, who is also the co-CEO.
With 50.01 percent of Bet365, Coates is the dominant stakeholder. As of December 2019, her net worth was projected to be $12 billion. In 2017, Coates was chastised by Mike Dixon, the CEO of Addaction, for paying herself £217 million. In 2018, it was revealed that she had increased her salary to £265 million, roughly 9,500 times the average UK salary, with Luke Hildyard of the High Pay Centre commenting, “Obviously, people who build successful businesses deserve to be compensated for their efforts, but this is a ridiculous sum of money for someone who is already a billionaire. It’s strange to conceive that someone so wealthy would desire to acquire even more rather than put it to better use.”
Coates founded the Bet365 Foundation in August 2012, and it was renamed the Denise Coates Foundation in February 2016. It is an English-registered charity that has given £100 million to twenty UK organizations as of 2014. Oxfam, CAFOD, the Douglas Macmillan Hospice for cancer sufferers in Stoke, and relief programs for victims of Typhoon Haiyan in the Philippines are among the charities that have received funding. Scholarships to universities and grants to theaters have also been offered.
The Foundation gave £230,000 to Trent Vale’s St Joseph’s College to support the school’s work with disadvantaged young people in Bo, Sierra Leone. The foundation awarded The New Vic Theatre in Newcastle-under-Lyme £235,000 in March 2020 for needed renovation and redevelopment. Coates contributed £10 million to University Hospitals of the North Midlands through her foundation in April 2020 to support professionals fighting the coronavirus.
Denise Coates Salary
Her compensation of £421 million in 2020 was 50% greater than in 2019, and it was higher than the combined salaries of all FTSE 100 Index CEOs.
Denise Coates Net Worth
She has an estimated net worth of $5 billion.
