Bet-at-home expects €11m income reward for discontinued Austrian business

Bet-at-home expects €11m income reward for discontinued Austrian business

Article brief provided by SBC News
  • Ted Menmuir, SBC News
August 10, 2022 11:47 PM
  • Ted Menmuir, SBC News

    Embattled bet-at-home AG has announced that it expects to recoup €11.4m in attributable income related to its discontinued Austrian business.

    Dire 2021 trading saw bet-at-home forced to exit Austria’s online gambling marketplace, having lost a long-standing legal dispute against customers who sought a reimbursement for ‘playing on an unlicensed website’.

    While the Austrian exit saw the firm wind-up its Malta subsidiary, it still considers the government’s monopoly concession granted to Casinos Austria as being in breach of EU business rules.

    bet-at-home has issued a ‘preliminary unaudited business update’ for investors, in which it forecasts an 18% decline in corporate revenues to €26.7m (H1_2021: €32.8m).