Bet365 CEO Denise Coates Takes 45% Pay Cut Despite Record Profits

GB
Published:

Denise Coates, the head of Bet365 and Britain's highest-paid woman, has implemented a 45% reduction to her salary and dividends, taking home £150 million last year. This decision comes in the wake of the online gambling company reporting a turnover increase from £3.4 billion to £3.7 billion and achieving a profit before tax of £626 million for the year ending March 2024, a significant turnaround from the £60 million loss the previous year.

Coates, who has received over £2 billion during her tenure leading the company, stated her current pay is considerably lower than the £466 million she collected in 2020. In her latest payout, £95 million was her salary, supplemented by a substantial dividend based on her majority shareholding.

In addition to her reduced salary, Bet365 contributed £120 million to the Denise Coates Foundation, a charitable organization controlled by her family. This donation marks a 20% increase from the £100 million given in the previous year. Although the foundation aims for long-term sustainability, analysis suggests these charitable contributions may offer substantial tax benefits to Coates's empire.

Weekly Newsletter

News summary by melangenews

Loading...

More from United Kingdom

UK Woman Exposes Yoga Center's Exploitative Practices in Shocking Report

A woman from Oxfordshire has revealed her harrowing experience at the Tara Yoga Centre in London, alleging it operated as a front for a sex cult led by Gregorian Bivolaru, who faces multiple criminal charges. According to a report by The Sun, the woman, who sought spiritual healing, became ensnared in a sex trafficking ring masquerading as a yoga institution. The woman recounted being invited to a retreat where sexual activities were promoted under the guise of spiritual awakening. She described disturbing encounters with Bivolaru, where she was led to believe that sexual relations with him would facilitate enlightenment. This alarming narrative surfaced as Bivolaru was arrested by French police in November 2023 on serious charges including human trafficking and rape. During the raid, authorities rescued 58 women from poor living conditions. The Tara Yoga Centre, which promotes Bivolaru's teachings, is part of the Movement for Spiritual Integration into the Absolute, operating in the UK and 28 other countries. The woman's testimony highlights concerns over exploitation disguised as spirituality within such organizations.
GB

Scientists Near Breakthrough in Lab-Grown Eggs and Sperm Technology

Researchers in the UK are on the verge of creating eggs and sperm through in-vitro gametogenesis (IVG), a technique that could revolutionize reproduction and allow single individuals and same-sex couples to have biological children, according to a report from the Human Fertilisation and Embryology Authority (HFEA) released on January 30, 2025. The process involves generating gametes from skin or stem cells, potentially making it feasible for children to be born using lab-produced sperm and eggs within the next decade. Experts note that while this advancement could alleviate age-related infertility issues, it also raises significant ethical and medical risks. Concerns about genetic screening and the possibility of creating multiple embryos have led the HFEA to urge caution and recommend legal and ethical regulations before the technology is implemented. There are fears that such advancements could inadvertently lead to eugenics practices by allowing parents to select embryos based on desired traits. As discussions continue, the technique has not yet been made available as a medical treatment. Legal changes from the British Parliament will ultimately determine its future application.
GB

UK Government Moves to Ban Bee-Killing Pesticides Amid Ecological Crisis

The UK government is taking steps to ban three neonicotinoids—clothianidin, imidacloprid, and thiamethoxam—set to address severe threats to bee populations, according to multiple reports. This decision follows scrutiny from the Office for Environmental Protection regarding the emergency use of thiamethoxam, which has been permitted annually since 2021 despite its harmful impact on pollinators, reported The Guardian. Ecologist Dave Goulson from the University of Sussex emphasized the dangers of these pesticides, stating that "one teaspoon is enough to deliver a lethal dose to 1.25 billion honeybees." He noted that these neurotoxins not only jeopardize bees but also other insects and organisms dependent on them. The proposed ban is a response to the declining pollinator populations critical for crop production. Emma Hardy, the Environment Minister, expressed the necessity of protecting these insects, stating that maintaining a "healthy environment is vital to our food and economic security." Advocates have called for a comprehensive national pesticide plan to ensure stronger regulations moving forward.
GB