Bet-at-Home.com AG Reports Financial Year 2023 Results

Düsseldorf-based Bet-at-Home.com AG Group (BaH Group) has announced its full-year financial results for 2023, marking a year of strategic reorientation and operational challenges. The company has reported a decrease in gross betting and gaming revenue to EUR 46,176 thousand from EUR 53,532 thousand the previous year. This decline was attributed to regulatory changes in Germany, including betting limits and obligatory reporting of deposit limits, as well as customer migration losses to the new system by EveryMatrix.

In response to these challenges, BaH Group has concentrated on outsourcing non-core components and focusing on efficient customer management and marketing. Despite the revenue decline, these measures led to reduced IT costs and streamlined operations.

The legal landscape presented mixed outcomes for BaH Group, with reduced potential legal risks in Austria but persisting uncertainties in Germany. Despite these hurdles, advertising expenses increased to EUR 17,029 thousand, reflecting intensified marketing efforts, notably around the start of the football season 2023/2024.

On the positive side, the company managed to cut personnel expenses considerably, thanks to a headcount reduction in 2022. Adjustments in operational approach also saw a decrease in other operating expenses. However, the financial year ended with a consolidated net income of EUR -1,505 thousand, down from EUR 11,907 thousand in the previous year.

Looking ahead to 2024, BaH Group plans to continue its strategic transformation, focusing on developing an innovative customer loyalty programme and improving its online betting and casino platforms. With a particular focus on expanding its market position in Germany and Austria, the group is optimistic about the European Football Championship 2024 driving positive business outcomes.