BET365 AND BETFRED FOUNDERS WITHSTAND RECESSION
30th April, 2012 at 15:17:34
Mixed fortunes as gambling contingent make 2012 Sunday Times Rich List
A list of the 1000 wealthiest people or families in the United Kingdom, published by the British Sunday Times on an annual basis, again contains a healthy component of online gambling executives despite recessive times.
Valuations, based on estimates of the minimum worth of Britain 's richest, are undertaken at the beginning of each year. The 2012 Sunday Times Rich List ranks those who have stated their source of wealth as "gambling" as follows:
- Peter and Denise Coates - Bet365
topped the gambling sector, ranking 92nd with a worth of £ 800 million, up £ 50 million over last year.
- Fred and Peter Done Betfred
- along with PartyGaming co-founders Ruth Parasol and Russ DeLeon tied at 112 on the list both with a worth of £ 700 million which reflects an increase of £ 40 million for the Done's and a loss of £ 33 million for Parasol and DeLeon.
- A third PartyGaming co-founder Vikrant Bhargava made the list in 329th place with £ 230 million.
- Victor Chandler, founder and owner of BetVictor
ranked 462nd with an estimated worth of £ 160 million.
- Coming in 501st on the list, Barney and Frances Eastwood, the Irish bookmaker and boxing promoter are estimated to be worth £ 150 million.
co-founders Ed Wray and Andrew Black, although not bullet proof in recessionary times, still ranked at 620th and 682nd with an estimated worth of £ 123 million and £ 110 million - down £ 9 million and £ 15 million respectively.
- Betfair investor Richard Koch took the 860th spot with a worth of £ 87 million, reflecting a loss of £ 5 million compared to the previous years estimate.
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