Bet-at-home.com Releases H1 2020 Results
Bet-at-home.com has released its financial results for the first half of 2020. The company reported a gross betting and gaming revenue of €62.3m and EBITDA of €15.8m.
“The impact of the pandemic became noticeable from mid-March 2020, when international sporting events were canceled or postponed. In this phase, however, the demand for alternative betting offers remained almost unchanged, as customers of the bet-at-home.com group switched to esports and marginal sports,” the company stated.
“With a step-by-step resumption of playing activities in the national European football leagues in May 2020 and the postponement of important events such as the Champions League and Europa League, the usually low-revenue summer months are positively influenced. In addition, the resumption of international tennis tournaments is to be expected in the second half of 2020.
“The online gaming segment including casino, live casino, virtual sports and poker was not negatively affected by the pandemic.
“As far as the outlook for the whole year is concerned, from the current perspective the management board still expects gross betting and gaming revenue between €120m and €132m in the financial year 2020.
“The decline in gross betting and gaming revenue compared to the financial year 2019 is attributable to legal restrictions in individual markets. A potential decline in revenues due to regulatory changes in Germany can currently not be estimated and is therefore not considered.”
Source: Latest News on European Gaming Media Network
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Source: Eastern European Gaming