Bet365 Family Coates Become Britain’s First Gambling Billionaires

Written by:
Aaron Goldstein
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Bet365 Family Coates Become Britain’s First Gambling Billionaires

Congratulations to Peter Coates, 75, his daughter Denise, 45, and son John, 43.  The Coates family are about to become Great Britain’s first billionaires of gambling.

The elder Coates started Bet365 while his daughter is widely credited for building the brand’s online presence.

Bet365 is now worth about £800 million, according to the Daily Mail. Other assets owned by the family include Premier League football club Stoke City.

In some ways, Peter Coates is to the Great Britain political scene what billionaire Sheldon Adelson is to conservative politics in the US.  Coates is a big donor to the Labour party, recently donating approximately £300,000.  Sure that’s a far cry from the couple million Adelson donated to the Republican party back in the States.

PartyGaming founders Ruth Parasol and Russ DeLeon were among the first gambling billionaires with companies based out of the UK.  Parasol and DeLeon reside in Gibraltar and the Daily Mail now quotes their net value at  £667 million.

Fellow gambling tycoons Fred Done of BetFred.com and Victor Chandler of BetVictor.com are each worth £100 million.

- Aaron Goldstein, Gambling911.com

Business/Financial News