bet-at-home projects improved full year performance despite 50% Q1 decline

bet-at-home projects improved full year performance despite 50% Q1 decline

Article brief provided by SBC News
  • Ted Orme-Claye, SBC News
May 23, 2022 9:21 PM
  • Ted Orme-Claye, SBC News

bet-at-home has encountered difficulties during the first quarter of the year, as its total group revenue declines by over 50% to €14 million [$15 million].

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However, the Dusseldorf-based betting and gaming operator maintains that this figure – despite representing a 54% decline on Q1 2021 revenues of €30 million – is still indicative of a strong start to the year.

Recorded EBITDA, meanwhile, was also a loss of €1.4 million – down from €7 million achieved last year – whilst sports betting revenue stood at €12.6 million and gaming revenue reached just €1.3 million.

In particular, the group noted challenges in its home market of Germany following the implementation of the Fourth Interstate Gambling Treaty.