bet-at-home.com has reported an 18% drop in revenue to €25.5 in the first quarter of 2020.

The betting and gaming volume totaled EUR 677.8 million in this period (Q1 2019: EUR 827.3 million).

Betting fees and gaming levies were at EUR 5.6 million in the first quarter of 2020 (Q1 2019: EUR 5.3 million). In the same period, VAT on electronic services had a negative impact on earnings of EUR 1.1 million (Q1 2019: EUR 0.9 million).

As a result of the contribution to earnings made in the current reporting period, Group equity increased to EUR 47.5 million as of 31 March 2020 (31.12.2019: EUR 41.6 million), resulting in a consolidated equity ratio of 48.9% (31.12.2019: 43.7%).

The bet-at-home.com AG Group also held liquid assets and short-term time deposits in the amount of EUR 55.3 million as of 31 March 2020 (31.12.2019: EUR 54.8 million).

The Management Board still expects a gross betting and gaming revenue between EUR 120 million and EUR 132 million in the financial year 2020. The decline in gross betting and gaming revenue compared to the financial year 2019 is attributable to the loss of essential parts of the Swiss market and the significant decline in the Polish market. A potential decline in revenues due to regulatory changes in Germany can currently not be estimated and is therefore not considered.

Furthermore, the Management Board still expects EBITDA to amount between EUR 23 million and EUR 27 million for the financial year 2020.