Denise Coates, boss of online gambling company Bet365, saw reserves in her foundation rise by almost 50%

A charity founded by Denise Coates, the billionaire boss of online gambling firm Bet365, has reduced its donations to good causes from £9m to £6m, despite its reserves swelling by almost 50% to £568m.

Accounts filed at Companies House detail the charitable activity of the foundation set up by Coates, Britain’s best-paid woman, whose £421m pay-and-dividend package for 2020 took her earnings beyond £1bn in four years.

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