Shareholders at gaming online gaming giants are revolting against executives pay increases. A significant number of shareholders at William Hill voting against a pay increase this week and it is expected that there will be a similar trend as Ladbrokes shareholders vote later today.

Holders of 176m shares at William Hill voted against a pay increase on Thursday, in relation to Ralph Topping who has been in charge since March 2008. However, while holders of 25m shares declined to vote, 331m shares were voted in favour of the increase.

Shareholders have taken exception to a pay increase of Mr Topping’s basic salary from £475,000 to £540,000 after he earned a total of £1.65m.

In defence of the rise William Hill have claimed since becoming the chief executive, Mr Topping has not had a pay rise as a result of the pay freeze in 2009. The planned rise is also the result of “the significant progress the business has made under his leadership”, bringing his pay “more in line with other companies of our size and complexity”.

Mr Topping claims the revolt as a result that the rise “went through the magic number of 10pc. I got appointed below the level of the previous incumbent and accepted that. When we went into a downturn I went to the board and said 'we are going to implement a pay freeze, forget my review until things improve’.”

He also claimed that he understood the “the sensitivity” around” the issue for shareholders and suggested that: “Maybe we didn’t explain it as well as we should have done.”