- Wealth of UK high rollers increased by 20% in the last year
- Arena Racing owners the Reuben brothers worth $18 billion
The annual edition of the Sunday Times Rich List has revealed that the total wealth of UK gambling industry tycoons has increased by nearly one-fifth in the last year.
This year’s list featured five billionaires and fifteen multimillionaires from the gambling industry, whose combined worth has increased by $3.88 billion to $25 billion from 2016.
Top of the wealth tree for UK gambling are the Reuben brothers, David and Simon, who are now worth $18 billion, a figure that rose by $1.6 billion on last year. The brothers own racetrack operating company Arena Racing, although their primary source of wealth came from property deals, aluminium trading and various investments across multiple sectors.
Of those on the list to make their wealth entirely in the gambling industry, the leading figures are siblings Denise and John Coates, together with their father, Peter. The family owns Bet365 and Stoke City FC and their wealth has increased from $4.9 billion to $6.7 billion in the last year, lifting them from 24th to 22nd in the list. According to the Racing Post, Bet365 took $37 billion worth of bets in 2015-16, equal to the entire GDP of Balkan nation Slovenia.
PokerStars co-founder Mark Scheinberg, who sold the well-known online poker business to Amaya for $4.9 billion in 2014, is next on the list, although he has since moved into property investment. His wealth has increased to a touch under $3.7 billion. Fred and Peter Done, the founders of Betfred, also get a mention, along with the founders of PartyGaming, Ruth Parasol and Russ DeLeon.
Teddy Saggi, the founder of Playtech, has dropped out of the list this year as he now reportedly spends much of his time outside of the UK.
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