Founder Denise Coates is believed to have earned £213.4 million for the yearbet365 Revenue Tops £2.85 Billion but Profits for FY2022 Take Big Hit
However, the company saw a significant decrease in profit, which totaled £49.8 million (€56.4 million) for the year, a drop of almost 90% from the previous year’s profit of £469 million (€431.3 million). This decrease was attributed to higher customer acquisition costs in new markets.
The decrease in profit was mainly caused by an increase in administration expenses, totaling £320 million (€362.5 million), including advertising costs in new markets and expenses for additional computers for expansion. The number of staff employed by the company also grew significantly from 5400 in the prior period to 6100 in FY22. This was in large part due to launches in Buenos Aires in Argentina, Colorado in the US, Ontario in Canada, and the Netherlands.
The highest-paid director of Bet365 Group, believed to be founder Denise Coates, received a salary of £213.4 million (€241.8 million) in the year ending March 2022. This was a 15% drop on the £250 million (€302 million) she was paid in the prior reporting period.
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