The operator bet-at-home posted gross betting and gaming revenue of €13.3m in Q1 2023, a 5.1 per cent year-on-year decrease.
“This resulted mainly from regulatory developments in the core market of Germany, namely due to comprehensive implementation of cross-product monthly betting limits starting from July 1, 2022,” it said.
Personnel expenses decreased by 43.7 per cent year-on-year to €2.5m, due to two successive restructuring programs implemented in the 2022 financial year.
Marketing expenses declined to €2.7m, 21.9 per cent below the same figure in 2022.
“This year the marketing focus will be made on advertising measures to the start of the football season 2023/2024 in the second half 2023, accompanied by the launch of a new German-licensed offering at www.bet-athome.de,” the operator added.
EBITDA in Q1 was €1.8m, versus €-1.4m in Q1 2022, with bet-at-home’s board expecting gross betting and gaming revenue for the 2023 financial year to be between €50m and €60m, with EBITDA tipped to be between €-3m and €1m.
“Due to the high level of awareness and acceptance of the bet-at-home brand in the German-speaking countries, the strategic focus in terms of revenue in the 2023 financial year will be on expansion in the core markets of Germany and Austria,” said CEO Marco Falchetto.
"In the 2023 financial year, the group will offer all products in Germany based on national licences.”