EQS-Ad-hoc: bet-at-home.com AG / Key word(s): Change in Forecast bet-at-home.com AG: bet-at-home.com AG provides an update on its guidance for the 2023 financial year and on operational transformation 23-Oct-2023 / 18:16 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
PUBLICATION OF INSIDER INFORMATION PURSUANT TO ARTICLE 17 OF REGULATION (EU) NO. 596/2014
bet-at-home.com AG provides an update on its guidance for the 2023 financial year and on operational transformation
Düsseldorf, 23 October 2023. bet-at-home.com AG (hereinafter also referred to as the "Company") announces that adverse sporting results, in particular a disproportionate number of favorite wins in the most relevant football leagues negatively impact sports betting margins in the period from August to October 2023.
The Management Board therefore adjusts its guidance for gross betting and gaming revenue for the 2023 financial year and now expects a target range of EUR 44 – 48 million (previously: EUR 50 – 60 million).
The management nevertheless expects an EBITDA for the 2023 financial year in the upper range of the previously announced forecast from EUR -3 million to EUR 1 million (as reported in the interim financial report 2023, there may arise additional one-off effects from the winding-up of bet-at-home.com Entertainment Ltd. (in Liquidation)). In particular, the migrations of the customer and betting platforms to an outsourcing partner have positively impacted the cost and earnings structure.
The bet-at-home.com AG Group is active in the domain of online sports betting and online gaming. With 5.7 million registered customers, the company (which is listed on the Frankfurt stock exchange) represents, together with its subsidiaries, one of the largest providers in Europe. The bet-at-home.com AG Group has companies in Germany, Austria, Malta and Gibraltar. The Group holds various licenses via its Maltese companies for online sports betting and online gambling. These licences authorise the company to organise and to sell online sports betting and online casinos in Germany as well as in other countries of the European Union. bet-at-home is certified according to ISO/IEC 27001:2013 for all Group companies in Germany, Austria and Malta.
Since 2009, bet-at-home.com AG has been part of the Betclic Everest SAS Group, a French group specialising in online gambling and online sports betting. FL Entertainment N.V. holds the majority of shares and voting rights in bet-at-home.com AG via Betclic Everest SAS. The bet-at-home.com AG Group is therefore included in the consolidated financial statements of FL Entertainment N.V., which are disclosed on a regular basis on the dates specified in the FL Entertainment N.V. financial calendar.
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1755339 23-Oct-2023 CET/CEST