The Austrian gaming firm, Bet-at-home, experienced a challenging beginning to 2022. Their most recent earnings statement reveals a sharp 54% decline in income compared to the same period the previous year, reaching a mere €14 million. This substantial decrease most severely impacted their digital division, plunging by nearly 90% to a meager €1.3 million. The sum of money gambled also experienced a steep fall, decreasing by a significant 75%.
Predictably, this resulted in a €1.4 million pre-tax deficit, a stark difference from the €7 million gain they enjoyed during the same period last year. The company transitioned from a comfortable €4.4 million profit in the first quarter of 2021 to a €2.7 million deficit in the corresponding period this year.
The firm attributes this decline to recent regulatory obstacles in both Germany and the Netherlands. Similar to many in the sector, Bet-at-home was compelled to cease accepting players from the Netherlands when the country introduced its newly regulated market in October 2021. However, there is a beacon of optimism. Bet-at-home submitted an application for a Dutch license in March 2022 and maintains a positive outlook on its future possibilities. CEO Marco Falchetto expresses confidence that the company is progressing towards recuperation.
From the time I became part of the leadership team in late February of 2022, the level of knowledge in numerous fields has continually amazed me. There’s no question in my mind that we possess a treasure trove – our task now is to unleash the complete capabilities of our offerings.
