Bet-at-home anticipates 2022 revenue of €60m following Austrian and German difficulties
Following a troubled 2021, which included restructuring and closing off parts of the business, bet-at-home looks to consolidate in 2022
The bet-at-home group is expecting to consolidate its 2022 revenue between €50m and €60m (£41.1m and £50.6m).
The announcement comes following a review of various mitigating operational circumstances including the termination of its online casino offering in Austria due to continued legal issues the firm faced in October 2020.
Additionally, bet-at-home had to sanction 65 redundancies at its Austrian subsidiary in 2021 due to the business needing to make cuts while revenue was falling.
The firm was hit by regulatory headwinds in Germany during 2021, which saw an 8.8% downturn in the first half of the year compared to the same period in 2020.
The group also restructured and winded up the Malta-based bet-at-home.com Entertainment Ltd in 2021.
Given these mitigating circumstances, the management board at bet-at-home has reassessed its expected full-year 2022 financial results.
In addition to a realigned revenue expectation, the board is also anticipating to post EBITDA in the range of €-2m and €2m.
The figures do not consider any potential deconsolidation effects of the Malta-based bet-at-home Entertainment Ltd.
At the time of writing, bet-at-home’s share price has dropped 4.96% to €15.32, but it has maintained a figure between €16.40 and €14.60 since the turn of the year.