Bet365
bet365 was founded in 2000 in a portakabin in Stoke-on-Trent by the Coates family, led by his daughter Denise. Denise developed a sports betting platform and trading team to launch the business online in March 2001. The business borrowed £15 million from RBS against the family's betting shop estate which had been started by Peter Coates in 1974. bet365 sold its betting shop chain in 2005 for £40 million and paid off its loan to RBS. bet365 has grown into one of the world’s largest online gambling companies with its reported figures to March 2010 showing amounts wagered on Sports at £5.4 billion, revenues of £358 million, and an operating profit of £104 million. Peter Coates holds the position of Chairman of bet365. Denise Coates, Joint Chief Executive, continues to run bet365 with her brother, John, alongside her.
Read more about this topic: Peter Coates