Bet-at-home.com AG Acknowledges Provision After Swiss Federal Court Ruling

Bet-at-home.com AG has decided to recognize a provision following a judgment by the Swiss Federal Supreme Court. This ruling concerns the VAT liability of sports betting services provided by its subsidiary, bet-at-home.com Internet Ltd, Malta. The current decision, while pending appeal, has prompted the company to adjust its risk assessment accordingly.

The provision amounts to approximately EUR 4.8 million, including interest. This will be reflected in the financial statements effective September 30, 2024. The provision was not included in the interim financial statements as of June 30, 2024. Despite this, the company expects to achieve a gross betting and gaming revenue between EUR 45 million to EUR 53 million for the current financial year. EBITDA before special items is anticipated to range from EUR -1 million to EUR 2.5 million.

The case's outcome and its potential financial impact remain uncertain. Further developments will be closely monitored as the company files its appeal.