Bet-at-home has reported Q1 revenue of €13.3m, down 5.1 per cent year-on-year from €14m.
The operator said this was a result of regulatory developments in its core market of Germany, including the implementation of cross-product monthly betting limits which began on July 1 last year.
Personnel expenses for bet-at-home decreased by 43.7 per cent year-on-year to €2.5m, which the operator attributed to two successive restructuring programs implemented in the 2022 financial year. Marketing expenses declined to €2.7m, 21.9 per cent down year-on-year.
“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.
It said its first-quarter EBITDA was €1.8m, up from €-1.4m in Q1 2022.
As for the 2023 financial outlook, bet-at-home expects gross betting and gaming revenue of between €50m and €60m, and EBITDA of between €-3m and €1m.
