Bet-at-home has reported a 9.3 per cent year-on-year drop in revenue for the first six months of the year.
The operator said this “resulted from regulatory developments in the core market of Germany, namely due to comprehensive implementation of cross-product and cross-provider monthly betting limits starting from July 1, 2022, as well as from a weaker than expected development of the online gaming segment, due to limitation of the licensed offering compared to the previous year.”
EBITDA in H1 2023 was €3.8m, increasing by more than three times compared to €1.1m posted for the same period last year.
Other operating expenses in the first half of this year declined by 13.9 per cent year-on-year.
The group said of its 2023 outlook: “The management board continues to expect the bet-at-home.com Group to generate gross betting and gaming revenue in the range of €50m and €60m, supported by an expected stronger performance of the online sports betting segment in the second half 2023, due to a higher customer acquisition and marketing activity.
“Despite the strong EBITDA in the first half 2023, we maintain our previously reported outlook with an EBITDA between €-3 million and €1m for the full year 2023, as we expect a significant increase in marketing costs related to the start of the football season in the second half 2023, which will have a corresponding impact on the EBITDA level.”
