01.02.2023

by Mateusz Mazur

Last update: 01.02.2023 13:00

Bet365 owners lost the first place in The Times Tax List

Since 2019, for the first time Bet365 owners, Denise, John and Peter Coates are not on the first place of The Times Tax List.

New leader

In 2022, the ownership dynasty contributed £460.2 million to the British budget, but this was enough to rank only second position on the British taxpayer list. Leading the list was Moscow-born owner of XTX Markets, Alexem Gerko, who paid £487.4 million in taxes in the last twelve months.

The total amount that the Coates family contributed to the state budget declined by 4.5% in comparison to the last year, when it amounted to 481.7 million pounds, and declined by 19.7% in comparison to the year 2020, when it was 573 million pounds.

However, the advantage of Coates over the next places still remains sizable. Rounding out the podium of the stakes is the owner of Speedo, Stephen Rubin and his family, who brought in £392.2 million. In fourth place, however, was, the hedging fund manager, Sir Chris Hohn, who paid £263 million in tax in 2022.

Further down, we also find the giants of the gambling industry. In fifth place in the list were Betfred owners, Fred and Peter Done (£136.8 million), in tenth major shareholders of Evolution, Ian and Richard Livingstone (£104 million).

Not only Coates family

The Coates family are not the only people associated with Bet365 to be included in The Times Tax List. Slightly further down classified Will Roseff, who helped to start bet365 and still retained 6.7% of shares.

Roseff paid £32.9 million of taxes in 2022, ranking him 41st among the UK’s largest taxpayers.

The Bet365 business itself is doing well and recorded a 2.3% increase in full-year revenue to 2.85 billion pounds in the 52-week period ending March 27, 2022. This happened even though profit from gambling operations fell 88%.

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