The bet-at-home.com AG Group announces financial results for the first six months of 2023.

By the end of the 2023 financial year, the bet-at-home.com AG Group intends to have key corporate functions performed by the outsourcing partner.

In this respect, in February 2023, the Malta-licensed offering (domain .com) of bet-at-home.com Internet Ltd. was successfully launched on the well-known outsourced platform iGaming of the software provider EveryMatrix. The outsourcing of the German- licensed platform to www.bet-at-home.de will be completed in the course of the year.

Gross betting and gaming revenue in the first half 2023 amounted to EUR 24.2 million, which is 9.3% lower than in the first six months of 2022 (1H 2022: EUR 26.7 million). This resulted from regulatory developments in the core market of Germany, namely due to comprehensive implementation of cross- product and cross-provider monthly betting limits starting from July 1, 2022, as well as from a weaker than expected development of the online gaming segment, due to limitation of the licensed offering compared to the previous year.

Personnel expenses decreased by 39.3% year-on-year to EUR 4.7 million, due to two restructuring programs implemented in the 2022 financial year. Marketing expenses declined to EUR 5.5 million, which is 5.6% below the level of the first half 2022 (1H 2022: EUR 5.8 million). This year the marketing focus will be made on advertising measures to the start of the football season 2023/2024 in the second half 2023. Other operating expenses in the first half 2023 decreased by 13.9% year-on-year to EUR 6.2 million compared to EUR 7.2 million in 1H 2022.