Germany-based Bet-at-home, the online gambling and sports betting company, is hoping for a €11m windfall from its discontinued Austrian business.
The company, originally founded in Austria but now headquartered in Germany, expects that the money will help it recover from a disastrous 2021 that compelled the company to leave the Austrian gambling market.
There followed a long-standing legal battle with customers who sued it for providing them with "an unlicensed website." The company also closed its Malta subsidiary.
Bet-at-home still believes that the Austrian government’s monopoly granted to Casinos Austria was in breach of EU laws. It has released a first-half business update, forecasting an 18 per cent fall in revenues to €26.7m, compared with the first half €32.8m in 2021.
The company now operates solely in Germany, reports SBC News. It expects EBITDA in the first half to fall to €1.1m, compared with €6.1m in 2021.
