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bet-at-home.com AG Group announced on Monday that it will temporarily discontinue its offering of online casino in Austria, and recognize further provisions due to player lawsuits for repayment of gaming losses. The Management Board decided during a Monday meeting with the Supervisory Board to put the online casino offering in the country on hold.
Bet-at-Home’s EBITDA, meanwhile, is now expected to fall between negative €10m and negative €14m, a significant decline from post-H1 expectations of €8m to €10m, thanks in part to €24.6m in expenses if it does have to reimburse customers. However, the business said it still is confident that it would ultimately be proven right in the legal system. “The bet-at-home.com AG Group still considers the online casino (de facto) monopoly of the national Austrian gambling regulation to ...
Discontinuing its Austrian online casino services, bet-at-home has lowered its projected corporate revenues to a range of €93-to-€98 million, as it anticipates a 2021 EBITDA loss of €10-to-€14 million – accounting for expenses of €24.6 million in connection with the Austrian customer lawsuits.
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