Coates family climb into Sunday Times Rich List top 20
Bet365 owners added approximately £1.1bn to their net worth over the last 12 months according to The Sunday Times
The Coates family has climbed into the top 20 on The Sunday Times Rich List, rising two spots to 19th after adding £1.1bn to their net worth last year.
The family is now worth almost £6.9bn according to The Sunday Times, driven by the success of bet365.
The Rich List report estimated the business to be worth around £6.5bn, with Denise Coates owning a 50.25% stake.
The report notes: “Having begun her bookies career as a schoolgirl in her father’s shop, Coates started the online gambling operation Bet365 in 2000, in which the family have a 93.3% stake worth £6.066bn.
“Her latest pay packet of £220m is the largest we have encountered in the past year, explaining the family’s second place in the inaugural edition of The Sunday Times Tax List, published in January.”
Bet365 recently topped EGR’s Power 50 rankings for the ninth consecutive year, following yet another 12 months of strong organic growth from an already massive base.
The firm saw 2018 betting and gaming revenues rise 26% to £2.72bn and profits up 33% to £682m.