Bet-at-home has reported a 9.3 per cent year-on-year drop in revenue for the first six months of the year.

Bet-at-home

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.”