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# 447 Denise Coates $4.56B

Random fact: Entered industry as a cashier at betting shops owned by her father.

Overview

Coates is the largest shareholder and co-chief executive officer of Bet365, a closely held online gambling business with over 45 million customers worldwide. The Stoke-on-Trent, U.K.-based company also owns the English Premier League soccer team Stoke City. Her brother, John Coates, is also a shareholder in Bet365.

As of :
Last change +$33.7M ( +0.7%)
YTD change +$422M ( +10.2%)
Industry Entertainment
Biggest asset Bet365
Citizenship United Kingdom
Age 52
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Denise Coates's net worth of $4.56B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Coates' fortune is derived from her controlling stake in Bet365, an online betting company. She owns 50.3% of closely held Bet365, according to the private company filings in November 2018. Bet365 has over 45 million customers worldwide, according to the company's website.

Her stake in Bet365 is valued using its financial results for the year to March 25, 2018 and the enterprise value-to-Sales and enterprise value-to-Ebitda multiples of three publicly traded peer companies: 888 Holdings, Kindred Group and Paddy Power Betfair. 

Bet365 also owns all of English Premier League team Stoke City. Coates' 50.3% stake is valued by applying the club's revenue for the year ended March 25, 2018 to the average enterprise value-to-Sales multiple of three publicly traded peers: Manchester United, Juventus and AFC Ajax.

The value of her cash investments is derived from her post-tax share of Bet365 salary and dividends since 2008, as disclosed in the company's annual reports.

No response was received from the company's headquarters to a request for comment on the net worth calculation.

Biography

Birthdate: 9/26/1967
Family: Married, 4 children
Education: University of Sheffield

Coates was born in central England's Stoke-on-Trent in 1967. Her father operated a soccer stadium catering business, according to a 2012 Guardian profile.

After graduating from Sheffield University with a degree in econometrics, Coates trained to become an accountant and took over a small chain of betting shops her father owned on the side. She was named managing director at age 22, according to a Staffordshire University release, and expanded the number of shops from 12 to 49.

Coates decided to shift the business online in 2000. She mortgaged the betting shops in exchange for a loan and purchased the domain name Bet365 on eBay, according to a 2015 Financial Times profile. She began running the new company out of a trailer in a car park.

The shops were bought for 40 million pounds in 2005, and Coates used the cash to invest in software and marketing. Coates bought the Stoke City soccer team, which her father owned in the 1980s and 1990s before selling his stake, as a family venture for 4.5 million pounds in 2006.

Bet365 was one of the first online gambling sites to offer in-play betting, which allows users to put money on individual components of games such as the next scorer. The site hosted 14 million registered customers by March 2014, according to the Financial Times. It generated more than 1.5 billion pounds in revenue in fiscal year 2015, according to Bloomberg data. Revenue had reached 2.7 billion pounds by 2018.

The billionaire still lives in Stoke-on-Trent, where she manages Bet365. She was appointed CBE, or Commander of the Order of the British Empire, at Buckingham Palace in 2012.

Milestones
  • 1967 Coates is born in Stoke-on-Trent.
  • 1989 Begins managing her father's string of betting shops.
  • 2000 Her brother, John, mortgages shops and takes out loan to help fund Bet365.
  • 2005 Shops are bought for 40 million pounds.
  • 2006 Bet365 buys the Stoke City soccer team.
  • 2012 Receives CBE at Buckingham Palace.
  • 2014 Founds Bet365 Foundation with 100 million pounds.
  • 2017 Site hosts more than 22 million registered customers worldwide.