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20 Apr 13
15:04
Joined:
Date Joined:
05 Jan 10
after amassing £925 million fortune in just 13 years
By Daily Mail Reporter
20 April 2013
The family behind bet365, one of the world's largest online sports betting sites, are set to be the UK's first gambling billionaires.
Peter Coates, 75, his daughter Denise, 45, and son John, 43, are now worth an estimated £925 million - just 13 years after they launched the firm.
Britain's top ten internet betting magnates are each valued at more than £100 million, according to the Sunday Times Rich List.
Bet365 is now worth about £800 million. Other assets owned by the family include Premier League football club Stoke City.
Mr Coates, chairman of bet365, is a key Labour donor. Last November, he caused Ed Miliband embarrassment after it emerged that a third of his business profits came from a Gibraltar-based subsidiary.
He has donated £300,000 to the Labour party in the past decade, including £10,000 to Mr Miliband this year.
During the last Labour Government, Mr Coates attracted controversy for donating substantial sums to the party while gambling legislation was still being considered.
Salford brothers Fred Done, 70, and Peter Done, 66, founders of betting giant BetFred, are worth an estimated £850 million.
Their allegiance to Manchester United has cost them millions. However, annual turnover and profits climbed significantly last year - shortly after it won a battle for Tote bookmaker. The Dones opened their first betting shop in Manchester in 1967.
PartyGaming founders Ruth Parasol and Russ DeLeon are worth an estimated £667 million. It was formed in 1997 and is best known for its online poker room PartyPoker.
Fellow gambling tycoon Victor Chandler has an estimated £160 million fortune. He started accepting football bets from Asia in the 1990s and took his business offshore.
The full list will be published on Sunday April 21
Read more: http://www.dailymail.co.uk
By Daily Mail Reporter
20 April 2013
The family behind bet365, one of the world's largest online sports betting sites, are set to be the UK's first gambling billionaires.
Peter Coates, 75, his daughter Denise, 45, and son John, 43, are now worth an estimated £925 million - just 13 years after they launched the firm.
Britain's top ten internet betting magnates are each valued at more than £100 million, according to the Sunday Times Rich List.
Bet365 is now worth about £800 million. Other assets owned by the family include Premier League football club Stoke City.
Mr Coates, chairman of bet365, is a key Labour donor. Last November, he caused Ed Miliband embarrassment after it emerged that a third of his business profits came from a Gibraltar-based subsidiary.
He has donated £300,000 to the Labour party in the past decade, including £10,000 to Mr Miliband this year.
During the last Labour Government, Mr Coates attracted controversy for donating substantial sums to the party while gambling legislation was still being considered.
Salford brothers Fred Done, 70, and Peter Done, 66, founders of betting giant BetFred, are worth an estimated £850 million.
Their allegiance to Manchester United has cost them millions. However, annual turnover and profits climbed significantly last year - shortly after it won a battle for Tote bookmaker. The Dones opened their first betting shop in Manchester in 1967.
PartyGaming founders Ruth Parasol and Russ DeLeon are worth an estimated £667 million. It was formed in 1997 and is best known for its online poker room PartyPoker.
Fellow gambling tycoon Victor Chandler has an estimated £160 million fortune. He started accepting football bets from Asia in the 1990s and took his business offshore.
The full list will be published on Sunday April 21
Read more: http://www.dailymail.co.uk
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