Family behind Bet365 become UK’s first gambling billionaires
The family behind the gambling giant Bet365 have become the UK’s first betting billionaires according to this year’s Sunday Times Rich List.
After founding Bet365 in 2000, the Coates family – father Peter and children John and Denise – have seen the family business generate an estimated £1.2bn fortune, putting them ahead of David Beckham and The Queen.
Supporting Stoke City
That figure is a nice rise on the £925 million net-worth they were valued at last year and has allowed the Stoke-based family to plough some their acquired fortune into their other asset, local Football team Stoke City (the potters).
Stoke City Supporters’ Council chairman Angela Smith
“Everybody who supports Stoke City will have a feeling of gratitude to the Coates family because of what they have done for the club. The fact they have such a successful company is not just great news for the club but also for the area because it creates so many jobs”. “It is refreshing to see that the city has produced another sensation in terms of employment and success and we all know the family has worked hard to achieve what it has. This sort of news keeps Stoke-on-Trent on the map and I am delighted that their wealth has reached billionaire status for the first time.”
Victor Chandler of BetVictor
Elsewhere, Fred and Peter Done of Betfred enter the list at number 107, quite a bit higher than Victor Chandler at 571 who is worth an estimated £160m.
, of which this was the twenty-sixth, is based on identifiable wealth, which includes land and property as well as significant shares in publicly quoted companies.