Bet-at-home revenue performance in-line with expectations
Bet-at-home.com AG Group has announced numerous measures to reorganize and streamline the bet- at-home.com Group’s operations in the current year.
The planned reduction in certain types of costs has been successfully pursued. This has allowed us to channel additional investments to marketing measures.
The World Cup 2022 is expected to become the key impulse for our business development and to result in a positive operational performance of the bet-at-home.com Group, also reflected in earnings. The synergies from the increased outsourcing are expected to be seen in the results from the first quarter of 2023 onwards.
Gross betting and gaming revenue in the first three quarters of the current financial year amounts to EUR 39.1 million and is in line with our expectations for the full year 2022. In Germany, in particular, we expect the relevant authorities to take rigorous action against unlicensed providers in the foreseeable future. In the last quarter of 2022 we expect to be granted a national license for virtual slot machines, which will further strengthen of our position in this core market. Cash and cash equivalents of the bet-at-home.com AG Group totaled EUR 34.5 million as of September 30, 2022. The Group equity as of September 30, 2022 was at EUR 28.2 million.
With the numerous measures to reduce costs and increase efficiency I am optimistic about the future. I am convinced that by streamlining operations the bet-at- home AG Group has taken the right path and is now excellently positioned for future growth. I would like to thank all those who have driven the restructuring of the Group with their expertise and commitment, above all our employees. Also I would like to thank our shareholders for the trust they have placed in us.