Bet-at-home posts over 50% revenue drop for Q1

Bet-at-home has published its first quarter financial results, noting an over 50% drop in revenue year-on-year.

bet at home q1 2022 gi web image
Listen To Article

For Q1 2022, Bet-at-home recorded €14m ($15m) in gross betting and gaming revenue, down from last year’s €30m by 54%.

Online gaming took the biggest hit. For Q1 of last year, this generated €13m in gross revenue, but as of the most recent reporting period, produced only €1.3m for an almost 90% drop. Betting and gaming volume decreased by a similarly large margin, falling by 75% from €515m to €126m.

Bet-at-home further recorded an EBITDA loss of €1.4m for Q1 2022, down from last year’s positive EBITDA of nearly €7m.

Likewise, the company’s consolidated profit for the first quarter of 2021 amounted to €4.4m, but as of 31 March 2022, this had plummeted to a loss of €2.7m.

These negative results can predominantly be attributed to regulatory challenges in Germany and the Netherlands.

Like many operators, Bet-at-home was forced to stop accepting Dutch players before the Netherlands’ newly regulated market launch last October.

However, Bet-at-home said it had submitted an application for a licence at the end of March 2022.

“Despite all the challenges of the past financial year, I am optimistic about the future and am convinced that Bet-at-home is on the right track with the measures and initiatives it has taken,” said Marco Falchetto, Bet-at-home CEO.

“Since my appointment to the Management Board at the end of February 2022, I have been convinced on a daily basis by the broad expertise in the individual specialist areas and am therefore confident that I will be able to leverage high potential at product level in the future.”


Casino News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Soft2Bet
Scientific Games
Digitain Malta
Follow Us

Facing Facts: Q3 2024 analysis

Gambling Insider takes a look at the Q3 results of operators...

Taking stock: The final count of 2024

Gambling Insider tracks operator and supplier prices of some...

CEO Special: Flutter CEO Peter Jackson – Playing to win

As the biggest publicly traded operator in gambling meets th...

CEO Special: Holland Casino CEO Petra de Ruiter – High flier

Petra de Ruiter, Holland Casino CEO, speaks to Gambling Insi...

A welcome from your host

A message from the Founder of the Global Gaming Awards and G...

From the event manager

A message from the Event Manager of the Global Gaming Awards...

From the Awards adjudicator

KPMG in the Crown Dependencies is the official voting adjudi...

The process

The Global Gaming Awards have deservingly earned the reputat...