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Bet365 is a family-owned business, 50.2% by Denise Coates. Her brother, John Coates, and her father, Peter, combined have 43.1% ownership; and the small remainder is taken by others. In addition to the Bet365 betting website, the company owns an 84.4% stake in the English Premier League franchise Stoke City FC, of which Peter Coates is the chair. As the story goes, he was a bookmaker, and his daughter Denise headed up their online expansion. While the origins of the site are vague, the story is far more remarkable starting at the beginning with Peter Coates’ birth. Peter Coates was born into poverty in 1938 in Stoke-on-Trent (England, UK) as the youngest of 14 children. His father was a miner and an avid fan of the local professional football team, the Stoke City Potters. Peter left school at the tender age of 14 to work in an office, and perhaps made his father proud when as a youth, he signed up to play with the Potters’ amateur team. Not quite good enough to reach the highest level, he went on to play football for the Goldenhill Wanderers and Kidsgrove Athletic before giving up the sport in 1961 at the age of 23. He then entered the service; and upon his release took a position at Wimpy restaurants, where he reached the position of regional manager. Peter’s career as a businessman started in his late-twenties when he founded Stadia Catering that provided catering services to football grounds. Stadia merged with Lindley Catering in 1968 and Peter served as chair from 1968-2001. The confusion about being a bookmaker comes from the fact that he was quite the keen investor. He purchased a few betting shops in 1974 that would go on to become the chain known as Provincial Racing, which through future acquisitions grew to as many as 59 shops. Provincial Racing was only one of many businesses tackled by Peter. As mentioned, while owning these shops he was also chair of Lindley Catering. Additionally, in 1983 he founded the radio station Signal 1, and in 1989 he purchased a majority stake in his favorite football club, Stoke City FC. He served as their chair until 1997 before selling his shares in 1999 for £3.5 million. Peter didn’t stay away long! In May of 2006, Bet365 purchased back all the shares previously sold, and he resumed the chair of Stoke City FC. As of today, he is currently listed as the 25th richest man in football. John and Denise Coates are Co-CEOs of Bet365 and two of the most private individuals you’ll find in the gambling business. Neither acquiesced to a single full interview until 9-years after the Bet365 website had been launched. From what can be gathered from these interviews, while a teenager, Denise worked as a cashier in one of her father’s betting shops–to him a small side business to the catering company that serviced football grounds. After receiving a first degree in econometrics from a local university, Denise became the operating manager of the betting shop franchise. She describes it as a handful of rubbish shops that she was up for the challenge to improve. Her brother, John, has stated in various interviews that working alongside Denise in the late 1990’s, he saw how fast she caught on to the growth of online betting and heard her keep repeating “this is what we’re going to do.”
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