Bet-at-home grows Q1 revenue to €37.2m
German betting operator Bet-at-home has reported Q1 gross betting and gaming revenue of €37.2m ($41.5m), a 12% increase year-on-year.
Betting and gaming volume totalled €827.3m, while EBITDA in the period rose 36% to €12.7m.
The company’s share price has risen since the beginning of the year, starting January at €48.90 and finishing March at €59.50. At the time of writing, Bet-at-home’s share price sits at €72.00, having risen slightly following its Q1 trading update.
Assuming tax and regulatory environments remain as they are, the operator expects gross betting revenue of between €130m and €143m for the fiscal year.
This would signal a gross betting revenue decline from 2018, attributed to legal uncertainties in Switzerland.
The company reports marketing fees of €8.2m in the first quarter of 2019, as it continues to spread brand awareness through international advertising in the form of TV ads, print, online media and sponsorship of corporations.
Betting fees and gambling levies increased for the operator to €5.3m, a 4% increase.
As of 31 March, Bet-at-home has 5.1 million customers.
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