bet-at-home - Austrian litigation claims mount
bet-at-home (BAH) made its first provision (€3.2m) for the reimbursement of player losses arising in its Austrian online casino offer in H121. A recent domestic legal decision means that more favourable rulings on appeal, as management expected, are unlikely in a reasonable timeframe. As a result, management has decided to suspend its online casino offering in Austria, and provided a further €21.4m to cover claims that continue to increase. Management now guides to an EBITDA loss in FY21, making the payment of a dividend unlikely.Bet-at-home.com AG is a holding company and as such does not have business operations beyond managing its own holdings. All operational activities are carried out exclusively by its subsidiaries.
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