Bet365 Foundation

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Born26 September 1967 (age 53)
NationalityBritish
EducationUniversity of Sheffield
OccupationBusinesswoman
Known forFounder and joint CEO, Bet365
Net worthUS$10.2 billion (February 2021)[1]
Spouse(s)Richard Smith
Children5
Parent(s)Peter Coates
RelativesJohn Coates (brother)
Foundation

DENISE COATES FOUNDATION (the 'Company') is a Pri/lbg/nsc (private, Limited by Guarantee, No Share Capital, Use Of 'limited' Exemption), incorporated on 24 August 2012 (Friday) in UK. The company current operating status is Active and registered office is at BET365 HOUSE, MEDIA WAY, STOKE-ON-TRENT, UNITED KINGDOM. Bet365, one of the world's leading online gambling companies, is a driving force in the development of enterprise and Internet technology. Established by Denise Coates CBE in 2000, we have rapidly. Bet365 Foundation John helped Denise set-up the Bet365 Foundation in August 2012 and it has donated £100 million to 20 UK charities to help support projects home and abroad. Bet365 foundation 24 Aug 2012 - 12 Feb 2016 Tell us what you think of this service (link opens a new window) Is there anything wrong with this page? One of the world's leading online gambling companies. The most comprehensive In-Play service. Deposit Bonus for New Customers. Watch Live Sport.

Denise CoatesCBE (born 26 September 1967) is a British billionaire businesswoman, the founder and joint chief executive of online gambling company Bet365.[2]

In October 2019, Forbes magazine estimated Coates's net worth at $12.2 billion.[3] In 2018, Coates was paid a £323 million, which included a 50 per cent share of a £92.5m company dividend.[4] As of 2019, Coates is the highest paid chief executive of any UK company and one of the wealthiest woman in Britain according to the Sunday Times Rich list.[4][5]

Early life[edit]

Bet365 foundation mobile

Denise Coates was born the eldest daughter of Peter Coates, chairman of Stoke City F.C. and a director of Bet365. She earned a first class degree in econometrics from the University of Sheffield.[6]

Business career[edit]

While at school, Coates started work in the cashiers' department of Provincial Racing, a bookmaking firm owned by her family. After leaving university, she continued to work at Provincial Racing, as an accountant. Following this, Coates became managing director over the small chain of shops in 1995. That same year, Coates obtained a loan from Barclays to acquire a neighbouring chain.[7]

Bet365 Gold Cup at Sandown in April 2011

Bet365[edit]

In January 2000, Coates purchased the domain name Bet365.com.[8] Bet365.com was launched in 2001 as an online betting site. The business borrowed £15 million from RBS against the family's betting shop estate. In 2005, these shops were sold to Coral for £40 million, which allowed Coates to pay off the loan to RBS.

As of 2016, Bet365 is one of the world's largest online gambling companies, with $2 billion in revenues and facilitating $45 billion in yearly bets. The company also owns a majority stake in Stoke City Football Club. In 2015, Bet365 moved its headquarters from Stoke to Gibraltar because of its favourable regulations. Coates still runs the company alongside her brother, and co-CEO, John Coates.[9]

Coates is the majority shareholder with 50.01% of Bet365. Her personal fortune is estimated at $12 billion, as of December 2019.[1]

In 2017, Coates was criticised for paying herself £217 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.'[10] In 2018, it was announced that her salary had increased to £265 million, around 9,500 times more than the average UK salary, with Luke Hildyard of the High Pay Centre commenting, 'Obviously, people who build successful companies need to be rewarded for their hard work, but this is an obscene amount of money for someone who is already a billionaire. It's weird to think that someone so rich would want to get their hands on even more, rather than put it to a more useful purpose.'[11]

Denise Coates Foundation[edit]

Coates set up the Bet365 Foundation in August 2012, and in February 2016 it was renamed to Denise Coates Foundation. It is a registered charity under English law[12] and it donated £100 million[13] to twenty UK charities as of 2014.

Charities which have received funds include Oxfam, CAFOD, the Douglas Macmillan Hospice for cancer sufferers in Stoke, and relief programmes for victims caught in the aftermath of Typhoon Haiyan in the Philippines. University scholarships and theatre donations have also been offered.[14][15]

The Foundation pledged £230,000[16] to St Joseph's College, in Trent Vale, for the school's work to help support vulnerable young people in Bo, Sierra Leone.

In March 2020 the foundation granted £235,000 to The New Vic Theatre in Newcastle-under-Lyme for essential refurbishment and redevelopment.[17][18]

Bet365

In April 2020, Coates donated £10 million through her foundation to University Hospitals of North Midlands to support staff fighting coronavirus.[19]

Personal life[edit]

Coates is married to Richard Smith, and they live in Betchton near Sandbach, Cheshire.[6][10] She drives an Aston Martin with personalised number plates bearing her initials.[8]

They have five children, including four that in March 2014 were reported as being 'recently adopted from the same family'.[7][1][20]

Honours and awards[edit]

In January 2012, Coates was appointed a Commander of the Order of the British Empire (CBE) for services to the community and business.[21] In 2012, she received an honorary doctorate from Staffordshire University.[6]

In 2013, Coates was named as one of the 100 most powerful women in the UK by Woman's Hour on BBC Radio 4.[22]

In 2019, Coates was inducted to the Sports Betting Hall of Fame run by Sports Betting Community (SBC) for her leadership in the gambling industry.[23]

References[edit]

  1. ^ abc'Forbes profile: Denise Coates'. Forbes. Retrieved 27 January 2021.
  2. ^Gill, Oliver; Foy, Simon (18 December 2019). 'Bet365's Denise Coates cements place as world's best-paid woman with £320m payday'. The Telegraph. ISSN0307-1235. Retrieved 26 May 2020.
  3. ^'Denise Coates'. Forbes. Retrieved 11 May 2018.
  4. ^ ab'Subscribe to read Financial Times'. www.ft.com. Retrieved 19 December 2019.Cite uses generic title (help)
  5. ^'The Sunday Times Rich List 2020: The 10 richest women in Britain'. uk.finance.yahoo.com. Retrieved 1 July 2020.
  6. ^ abc'Denise Coates CBE'. Staffordshire University. Retrieved 10 February 2018.
  7. ^ abPagano, Margareta (4 March 2014). 'Against the odds: Denise Coates's good fortune'. The Independent. Retrieved 10 February 2018.
  8. ^ abBowers, Simon (8 June 2010). 'Denise Coates: the hidden 24/7 woman behind Bet365'. The Guardian. Retrieved 10 February 2018.
  9. ^correspondent, Rupert Neate Wealth (21 November 2018). 'Bet365 founder paid herself an 'obscene' £265m in 2017'. The Guardian – via www.theguardian.com.
  10. ^ abNeate, Rupert (12 November 2017). 'Bet365 chief Denise Coates paid herself £217 million last year'. The Guardian. ISSN0261-3077. Retrieved 10 February 2018.
  11. ^'UK's best-paid boss earns £265m'. BBC News. 21 November 2018. Retrieved 22 November 2018.
  12. ^'DENISE COATES FOUNDATION, registered charity no. 1149110'. Charity Commission for England and Wales.
  13. ^Bowers, Simon (11 July 2014). 'Bet365's Denise Coates sets up £100m charity foundation'. The Guardian – via www.theguardian.com.
  14. ^University, Staffordshire. 'Denise Coates Foundation awards a hundred bursaries to Staffordshire University students'. Staffordshire University. Retrieved 11 May 2018.
  15. ^'ewb'. www.empoweringwb.org.uk. Retrieved 11 May 2018.
  16. ^'Bet365 Foundation Donation'.
  17. ^Elliott, Louise (29 June 2020). 'North Staffordshire theatre set to undergo £750,000 refurbishment'. stokesentinel. Retrieved 1 July 2020.
  18. ^'NEW VIC THEATRE RECEIVES MAJOR INVESTMENT FROM DENISE COATES FOUNDATION FOR AUDITORIUM REFURBISHMENT PROJECT'. New Vic Theatre. 2 March 2020. Retrieved 1 July 2020.
  19. ^'Bet365 boss donates £10m to NHS for coronavirus'. BBC News. 7 April 2020. Retrieved 28 April 2020.
  20. ^Evans, Peter (12 November 2017). 'Bet365 co-founder Denise Coates's £200m payday'. The Times. Retrieved 10 February 2018.
  21. ^'Denise Coates is among those named in New Year Honours'. BBC News. 31 December 2011. Retrieved 10 February 2018.
  22. ^'Denise Coates CBE'. BBC. Retrieved 10 February 2018.
  23. ^'SBC announces new inductees to Sports Betting Hall of Fame'. SBC News. 30 August 2019. Retrieved 30 August 2019.
Retrieved from 'https://en.wikipedia.org/w/index.php?title=Denise_Coates&oldid=1008303713'
The principal activity of the Bet 365 Foundation is to distribute funds in support of local, national and international charitable activities.
Its primary objective is to work through UK registered charities to provide front-line funding that is used to make a positive difference to people's lives.
Charities are invited to present proposals to the Foundation's Trustees detailing how a donation would be used and the benefits it would deliver.
The Trustees assess how the proposal aligns to the objective to provide front-line funding that makes a 'positive difference' in order to determine whether or not to grant a donation.
The Financial Year 2013/14 was the Foundation's first full year of activity. During the year it provided £1.45 million of donations to20 charitable organisations, 14 of which each received donations totalling more than £20,000. The average grant award was for £72,500.
o Health and Wellbeing (£525,018)
The Foundation gifted significant funds to provide care and life enriching support to individuals, and their families, living with progressive terminal illness, non-curable illness and disability.
The Foundation take the view that education is the key to an individual achieving their full potential, therefore access to education is of paramount importance. Through no fault of their own some people face greater barriers than most. The Foundation is committed to trying to make a difference, giving people an opportunity to realise their potential by helping to 'level the playing field'.
Large scale natural disasters have a devastating effect on people's lives. In the immediate aftermath of Typhoon Haiyan the Foundation provided a donation to a UK registered charity running an on-the-ground, front line emergency relief programme helping individuals/communities in the Philippines.
The Foundation’s intention is to provide young people with access to facilities and equipment that they may not ordinarily have access to. Its desire is for individuals to develop skills and positive interests that could help with their future careers. Areas of focus include; web design, application development and graphic design.
The Arts, for many, are a life enriching source of pleasure with a theatre providing a focus for the local community. During the year the Foundation made a donation to a local theatre; the donation resulted in it increasing its show investment, enabling it to enhance the scale and size of its productions. As a consequence of the Foundation's donation the theatre was also able to apply for matched funding from the Arts Council, which it received.
PLEASE NOTE: the Foundation does not have a website. Further information about its work is, however, available on the Charity Commission website.
Mr. Simon Galletley
Bet 365 Foundation
C/o Baker Tilley
Festival Way
Festival Park
Stoke-on-Trent
ST1 5BB
Email:simon.galletley@bet365.com

Bet365 Foundation Grant

(Source: GRIN)