bet-at-home AG has cited trading difficulties as its business continues to be impacted by a deluge of negative adjustments across core markets.

Publishing its H1 2022 financial update, bet-at-home disclosed the impact of the Frankfurt Boerse betting group exiting Austria and downsizing its business due to the termination of its Malta subsidiary. Period trading saw bet-at-home generate gross gaming revenues of €26.7m [$25.6m], corresponding to a 19% decline on H1 2021 results of €32.8m.

Negative headline results reflected the continued decline of the firm’s online sportsbook unit, which registered an H1 GGR of €24m down 25% on 2021 results of €32m.

Sportsbook performance was blighted as bet-at-home was forced to observe German GlüStV2021 state-treaty rules that imposed significant restrictions on live betting markets impacting customer activity.