bet-at-home AG Group has reported revenues of €56.8 million in the first half of 2021, which was down 9% below the prior-year figure €62.3 million.

The main reason for this is the regulatory development in the core market of Germany. In February 2021, the bet-at-home.com AG Group implemented the conditions of the nationwide sports betting license obtained in November 2020 in the core market of Germany by implementing its own German platform for German customers.

Legal requirements such as an elaborate registration process and a limited betting offer had a negative impact on customer activity in the first half of 2021, with the result that the European Football Championship in particular fell short of expectations. Although long-term legal certainty was gained in the core market of Germany as a result of the licensing, the upcoming implementation of cross-product monthly betting limits for online sports betting and online gaming is likely to lead to further revenue losses in Germany in the coming months. In addition, the online gaming segment in Germany developed below expectations in the first half of 2021 due to the ban on popular games such as roulette and blackjack. The attractiveness of the remaining licensable online gaming offering suffers from the limitations and regulatory requirements.

Based on the aforementioned factors influencing the revenue and earnings development of the bet-at-home.com AG Group, the Management Board currently expects gross betting and gaming revenue of between EUR 100 million and EUR 110 million in the financial year 2021, as already reported on July 19, 2021. For the financial year 2021, the Management Board expects EBITDA of between EUR 8 million and EUR 10 million.