{"id":125458,"date":"2020-01-27T17:17:51","date_gmt":"2020-01-28T01:17:51","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=125458"},"modified":"2020-01-28T08:10:49","modified_gmt":"2020-01-28T16:10:49","slug":"denise-coates-bet365-was-biggest-uk-tax-contributor-in-2019","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/denise-coates-bet365-was-biggest-uk-tax-contributor-in-2019\/","title":{"rendered":"Denise Coates\u2019 Bet365 Was Biggest UK Tax Contributor in 2019"},"content":{"rendered":"

The Coates family — owner of online sports-betting giant Bet365<\/a> — has been named the UK\u2019s biggest taxpayer of 2019, according to the Sunday Times<\/em> Tax List.<\/p>\n

\"Bet365\"
Denise Coates caused a media commotion when she paid herself $422 million last year. But unlike many of her counterparts, she is also taxing herself to the max. (Felix Clay\/eyevine\/Redux)<\/figcaption><\/figure>\n

The accolade might even temper media criticism directed at the private company\u2019s CEO and cofounder, Denise Coates, for her extravagant annual salaries,<\/a> which have totaled more than $1 billion over the past three years.<\/p>\n

The 52-year-old mother of five paid herself \u00a3323 million ($422 million) in 2019. This broke the record for the biggest executive pay packet in UK corporate history, which had been set the previous year by Coates when she paid herself \u00a3220 million ($287 million).<\/p>\n

\u00a3125 Million Tax Bill<\/strong><\/h2>\n

But Coates has also been paying her dues. While almost all UK sports-betting operators have located their online arms offshore in tax-happy jurisdictions like Malta, Gibraltar, or the Isle of Man, Bet365 has remained in the UK, in the Coates family\u2019s native Stoke-on-Trent, where it is a major employer.<\/p>\n

And while there is much talk in Britain of the aggressive tax avoidance measures of global giants like Amazon and Starbucks, Bet365\u2019s contribution to the UK public finances was more than \u00a3276 million ($360 million) in 2009, nearly twice as much as any other entry on The Times<\/em>\u2019 list.<\/p>\n

\n

Coates personally would have contributed around \u00a3125 million ($164 million) in tax from her fat-cat salary, which she could have reduced by taking more in dividends.<\/p>\n<\/div>\n

But she didn\u2019t. And it\u2019s interesting that the Coates family has long been a donor to the left-wing Labour Party, which, at the last election, advocated taxing the rich, curtailing the power of billionaires, and imposing tighter controls on the gambling industry.<\/p>\n

The only other gambling industry figures to make The Times<\/em>\u2019 list were Fred and Peter Done, founders of Betfred. Ranked 22nd, the Done brothers paid an estimated \u00a344.5 million ($58 million) in taxes in 2019 and are long-time donors to the Conservatives, a party that has historically been friendlier to billionaires.<\/p>\n

World\u2019s Biggest Pay Packet?<\/strong><\/h2>\n

But Denise Coates\u2019 remuneration for 2019 remains controversial. It equates to around \u00a3162,500 ($212,000) per hour, based on an average working week of 40 hours.<\/p>\n

Looking at the highest executive salaries in the world for 2019, it’s hard to find one that tops it.<\/p>\n

\n

Yahoo Finance has attempted to compile a list, which missed Coates completely. Had she been on Yahoo\u2019s radar, she would have come in second, sandwiched between Discovery CEO David M. Zaslav ($129 million) and Telsa CEO Elon Musk.<\/p>\n<\/div>\n

But Musk\u2019s purported $2.2 billion salary is complicated because it\u2019s largely based on stock options tied to performance goals, as opposed to cash.<\/p>\n

Musk is also notorious for not bothering to cash his salary checks. In 2018, he was reported to have been \u201cpaid\u201d $513 million, but Telsa said he \u201cactually earned $0\u201d from the company.<\/p>\n

There is also a lack of readily available information about the salaries of Russian oligarchs, Chinese tech moguls, and maybe even Macau junket operators.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Coates family — owner of online sports-betting giant Bet365 — has been named the UK\u2019s biggest taxpayer of 2019, according to the Sunday Times Tax List. The accolade might even temper media criticism directed at the private company\u2019s CEO and cofounder, Denise Coates, for her extravagant annual salaries, which have totaled more than $1 […]<\/p>\n","protected":false},"author":36,"featured_media":125462,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19],"tags":[],"acf":[],"yoast_head":"\nDenise Coates\u2019 Bet365 Was Biggest UK Tax Contributor in 2019<\/title>\n<meta name=\"description\" content=\"Bet365 and Denise Coates were the biggest contributors to the UK, paying more than \u00a3276 million in 2009, with Coates personally paying \u00a3125 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/denise-coates-bet365-was-biggest-uk-tax-contributor-in-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Denise Coates\u2019 Bet365 Was Biggest UK Tax Contributor in 2019\" \/>\n<meta property=\"og:description\" content=\"Bet365 and Denise Coates were the biggest contributors to the UK, paying more than \u00a3276 million in 2009, with Coates personally paying \u00a3125 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/denise-coates-bet365-was-biggest-uk-tax-contributor-in-2019\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-28T01:17:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-01-28T16:10:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/denise.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1333\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/denise-coates-bet365-was-biggest-uk-tax-contributor-in-2019\/\",\"url\":\"https:\/\/www.casino.org\/news\/denise-coates-bet365-was-biggest-uk-tax-contributor-in-2019\/\",\"name\":\"Denise Coates\u2019 Bet365 Was Biggest UK Tax Contributor in 2019\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/denise-coates-bet365-was-biggest-uk-tax-contributor-in-2019\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/denise-coates-bet365-was-biggest-uk-tax-contributor-in-2019\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/denise.jpg\",\"datePublished\":\"2020-01-28T01:17:51+00:00\",\"dateModified\":\"2020-01-28T16:10:49+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"Bet365 and Denise Coates were the biggest contributors to the UK, paying more than \u00a3276 million in 2009, with Coates personally paying \u00a3125 million.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/denise-coates-bet365-was-biggest-uk-tax-contributor-in-2019\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/denise-coates-bet365-was-biggest-uk-tax-contributor-in-2019\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/denise-coates-bet365-was-biggest-uk-tax-contributor-in-2019\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/denise.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/01\/denise.jpg\",\"width\":2000,\"height\":1333,\"caption\":\"Denise Coates caused a media commotion when she paid herself $422 million last year but unlike many of her counterparts, she is also taxing herself to the max. 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