Bet-at-home revenue down to €13.3m in Q1
Austrian operator cites monthly betting limits in Germany as core reason for downturn
Bet-at-home has posted a 5.1% year-on-year (YoY) decrease in revenue for Q1 2023.
The operator saw revenue fall from €14m to €13.3m, which it noted was due to the implementation of monthly betting limits in Germany.
EBITDA stood at €1.8m for the first three months of the year, compared to a loss of €1.4m for the same period last year.
Two consecutive restructuring programmes executed in 2022 saw a 43.7% YoY decrease in personal expenses to €2.5m.
This coincided with marketing expenses declining to €2.7m, 21.9% below where it was in Q1 last year – which amounted to €3.5m.
Looking ahead to the rest of the financial year, the Austrian operator’s board expects to generate revenue in the range of between €50m and €60m and EBITDA in the range of a €3m loss and €1m in earnings.
The group is also set to push ahead with its outsourcing strategy with its partner EveryMatrix. The pair joined forces in February as bet-at-home looked to reduce costs by moving away from an internal tech stack.