In this success post, we are going to share the story of Denise Coates, a British billionaire businesswoman who is the founder and CEO of online gambling company Bet365. She purchased the domain name Bet365.com in January 2000. Bet365 has grown into one of the world’s largest online gambling companies, with $2 billion in revenue and facilitating $45 billion in bets in the year through March 2016. In the year 2019, Forbes magazine estimated her net worth to be at $12.2 billion.
Denise Coates born
Denise Coates was born on 26th September 1967 in England. Her nationality is English, and her ethnicity is White. She is the eldest daughter of the Peter Coates, chairman of Stoke City FC, and a director of Bet365. She also has a brother named John Coates. About her education, she earned a first-class degree in econometrics from the University of Sheffield. She is Christian by religion, as of 2020 she celebrated her 53rd birthday with her parents.
How Denise Coates started Bet365?
Denise Coates purchased the domain name Bet365.com in the month of January 2000, and she spent a year creating a new online betting site. Bet365 was launched in the year 2001. The business borrowed $20 million from RBS against the family betting shop estate. In the year 2005, these shops were sold to Coral for $50 million, which also paid off the loan to RBS.
Bet365 has grown into one of the world’s largest online gambling companies, with the $2 billion in revenues and facilitating $45 billion in bets in the year through March 2016.
Apart from that, the company also owns a majority stake in the Stoke City Football Club. Bet365 moved its headquarters to Gibraltar because of its favorable regulations in 2015.
She still runs the company alongside her brother, and Co-CEO, John Coates.
She is the majority shareholder, with 50.1% of Bet365. In the year 2017, she was criticized for paying herself $300 million with Mike Dixon, CEO of Addaction, saying, “It cannot be right that the CEO of a betting company is paid 22 times more than the whole industry ‘donates’ to treatment.”
Denise Coates net worth
As of October 2019, Forbes magazine estimated her net worth at $15 billion.