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Owners of Bet365 Almost Doubled Family Fortune This Year
- April 27, 2015 By Oliver Young -
According to the popular Sunday Times Rich List, the United Kingdom has 117 new billionaires, which is 13 more than the 104 of last year. However, the fact that despite the many economic struggles during the previous year there are more and more rich people in the UK is overshadowed by the fact that the family that owns Bet365 Casino and betting group almost doubled its fortune.
Peter Coates and his daughter Denise are the powerful duo that owns one of the most popular UK online gambling groups Bet365. They have managed to grow their family fortune for incredible 96% from £1.15 billion to £2.35 billion.
Peter and Denise used to hold the 78th place on the list of the UK’s wealthiest people; nevertheless, they witnessed a high jump to the 44th place after their online gambling company reported 81.5% surge in profits in July 2014. The head spinning amount of their revenues was £320.9 million.
Denise Coates launched Bet365 back in 2001 alongside her brother John and her father Peter. Denise, who is only 47 years old, proved extremely good in leading the business and she helped Bet365 to become a leading name in the UK online gambling industry.
Other Wealthy Gambling Provider Owners
Even though the story about Bet365 is truly amazing, the duo that owns the group is not the wealthiest one when it comes to owners of online gambling operators. The list of richest online gambling group owners is topped by Mark Scheinberg, the former owner of Rational Group and current owner of PokerStars. His fortune is worth £2.76 billion and won him the 36th place on the list.
The founder of Betdaq, Dermont Desmond, is also on the billionaires list with his fortune of £1.47 billion. Desmond’s fortune made him the 5th richest person in Ireland. Another duo whose wealth has grown is Fred and Peter Done, the owners of Betfred. The last 12 months the brothers’ wealth noted a modest growth of “only” £50 million which was enough for their fortune to hit £1 billion.
Some other people that made this year’s Sunday Times Rich List are Michael Tabor, the owner of BetVictor and his £600 million. Tabor got the 5th place on the online gambling industry power people list after he acquired Victor Chandler’s online gambling operation in 2014. He was followed by David Power, the owner of Paddy Power Group, and his fortune of £236 million. Betfair’s owners Ed Wray and Andrew Black have £222 million and £135 million respectively. These amounts earn them 9th and 13th place on the reputable list of richest people in the UK’s online gambling business.
The Richest Man Has a Fortune of £13.17 Billion
The list naturally includes people from other industries as well. Therefore, the richest person for this year is Len Blavatnik, who is a Ukrainian businessman based in London. His wealth is amazing £13.17 billion and it has grown for three billion in comparison with last year.
Blavatnik is followed by the Hinduja family with £13 billion, the Weston family with £11 billion and Lakshmi Mittal with his £9.2 billion.