Peter Coates (Bet365) history

tom durr dawn full tiltBritain has always been the home of gambling and just in the UK, in the early 2000s, here is also started the business of online gaming that has allowed some families to accumulate huge amount of money, as evidenced by the ranking published by Sunday Times of the UK’s richest men.The Coates family, owner of the historic bookmaker Bet365, last year earned something like 125 million pounds: their business, thanks to internet, has grown 21%. The total assets of the founder Peter Coates and sons Denise (a key figure in the management of the company) and John (CEO), has reached the £ 925 million in 2013. In fact, the Coates are currently the richest British in e-gaming. The life of Peter Coates is undoubtedly worthy of being told: born into a large family of Goldenhill, is the youngest of 14 children. His father was a miner and also an amateur player who decides to hang up his boots at 23. Peter left school at 14 and began working. He joined the paratroopers and then, at the time of the leave, becomes manager for a franchising restaurants. In 1974 he opened a betting agency. The turning point in 2000 when he decided to invest on betting on a large scale (especially online), launching Bet365: get from a bank of £ 15 million as a line of credit, mortgaging the historical agency. In 2005 he sold the chain of betting shops Bet365 to 40 million and invests everything about online: betting, poker and casino. The move once again proves to be a winner, if you think that only in 2011 the book bill of £ 358 million, with an up margin of 104 million. Peter Coates is famous in England for many years because it has linked its name to Stoke City Football Club. Coates has become the majority shareholder in 1989 and sold the club in 1999 for £ 3.5 million pounds to a group of Icelandic investors . In 2005, the family bought back the club Coates (via Bet365) for £ 1.7 million after two years bringing the club in the Premier League.

December 26, 2013 by : Posted in Poker News No Comments

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