Email Print Share Bet365 has reported betting and gaming revenues of £2.72bn for the year to 25 March 2018, a 26% rise year-on-year. Profits for the 12-month period climbed 33% to £682.2m, with the operator hailing improvements in both betting and gaming. Stock analysis for Betsson AB (BETSB:Stockholm) including stock price, stock chart, company news, key statistics, fundamentals and company profile.

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The Coates family is from Stoke-on-Trent, England, which is a small, working-class city. The patriarch of the family, Peter Coates, was an entrepreneur who was involved in many businesses. You can read a full bio of Peter Coates and his family here:

One of the businesses that Peter Coates decided to invest in was a series of failing betting shops around England that he wrapped under the name of Provincial Racing.

Having already had success in other businesses, including a sports arena catering company, Coates had the bankroll to rebuild this business, the love of sport (he was a semi-professional English footballer himself), and the desire to remain in the betting business.

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Coates had two children, Denise and John, and from an early age, they were involved in their father’s business.

Denise was specifically involved in the betting shops, having started her employment there as a cashier in her teens and continuing to work there throughout attaining her Economics degree in university.

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After she graduated, Denise started to take on a larger role with Provincial Racing, eventually becoming the manager for the whole business. She was an excellent businesswoman – the company was growing and becoming more profitable each year.

However, this didn’t stop the wheels turning with Denise. She was looking for the next play for the company, and came up with an idea.

Internet gambling was starting to become prevalent in the late 1990s, and armed with a land-based stable of clients, Denise Coates was certain that she needed to be in that space as well. She had found a unique URL to purchase, and with a loan from her father, she bought Bet365.com.

The next step was to get software built and ready to launch a full, online sportsbook. This would cost money, and the online site would borrow money from Provincial Racing to accomplish this development.

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A new corporation was set up for the online piece of the business, with Denise holding a slight majority of 50.2% of the shares. Her father and brother owned 43% between them, with the rest was set aside for other investors and employees.

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So, with a great URL, a piece of software, and the money behind it to market their venture, Bet365 was ready to launch. In March 2001, the site went live, and the company started their rise to the top.