Bet-at-Home Considers Sale Amid Legal Challenges

Bet-at-home, a prominent European gambling operator, is reportedly seeking a buyer amidst significant legal and regulatory challenges.

Despite these setbacks, the company posted impressive financial growth in 2024, fueled by major sports events and strategic marketing.

A potential sale could reshape the German-focused gambling market, marking another major shift after Playtech’s Happybet announcement.

Learn more about bet-at-home’s legal battles, financial outlook, and its place in the evolving iGaming landscape.

Bet-at-Home Reportedly Exploring Sale Amid Legal Challenges and Financial Resurgence

Key Points:

1. Legal Hurdles Persist: Bet-at-home faces significant challenges, including lawsuits and tax obligations in Austria and Switzerland.
2. Financial Growth: Despite setbacks, the company achieved a robust 8.9% GGR increase and revised its EBITDA outlook upward.
3. Market Impacts: A potential sale could shift the competitive dynamics of the German-focused iGaming sector.

Bet-at-Home Exploring Sale, Sources Reveal

Prominent European operator bet-at-home is reportedly seeking a buyer, according to industry sources cited by Gamingo.news. While no suitor has been confirmed, this development positions bet-at-home as the second Germany-focused gambling operator exploring a sale in recent days.

Last week, NEXT.io reported that Playtech is considering selling its Happybet brand, signaling potential consolidation in the German iGaming market.

Founded in 1999 in Wels, Austria, by Franz Ömer and Jochen Dickinger, bet-at-home has been a significant player in the European gambling industry. The company has been listed on the Frankfurt Stock Exchange since 2004 and became part of the Betclic Everest Group in 2009, itself owned by the entertainment giant Banijay Group.

Legal and Regulatory Hurdles

In recent years, bet-at-home has faced considerable legal and regulatory challenges, impacting its operational strategy.

1. Withdrawal from Austria:
   In October 2021, bet-at-home exited the Austrian iGaming market after losing a case where players sought reimbursement. This loss led to workforce reductions and the closure of its online casino subsidiary.
2. High-Profile Lawsuits:
   In August 2024, Austria’s Supreme Court ordered bet-at-home to repay €2.8 million to a gambling addict, citing lapses in responsible gaming measures. Liability for this repayment fell to bet-at-home.com Internet Ltd., a subsidiary of the now-defunct Malta-based bet-at-home Entertainment Ltd.
3. Swiss Tax Ruling:
   Earlier this month, Switzerland’s Federal Supreme Court upheld bet-at-home’s obligation to pay VAT on sports betting services from 2013 to 2017. The company had preemptively allocated €4.8 million to cover these payments.

These challenges have strained bet-at-home’s legal resources and tested its ability to operate in a highly regulated environment.

Financial Resilience Amid Adversity

Despite legal setbacks, bet-at-home has demonstrated notable financial resilience in 2024:

• Gross Gaming Revenue (GGR): The company reported an 8.9% year-on-year increase to €37.6 million for the first three quarters of 2024.
• Sports Betting Growth: The segment grew by 5.1%, supported by targeted campaigns tied to major events like the European Football Championship and the Summer Olympics.
• Gaming Revenue Surge: Gaming revenue saw a 56.4% year-over-year increase, reflecting effective marketing strategies.
• EBITDA Improvement: Adjusted EBITDA rose 18.6% to €2.8 million, prompting an upward revision of the full-year outlook to between €1.5 million and €4.5 million, a significant improvement from an earlier forecast of a potential loss.

These figures suggest that while bet-at-home faces external pressures, it retains the capacity to adapt and thrive financially.

Market Implications of a Potential Sale

If bet-at-home moves forward with a sale, it could reshape the German-focused iGaming market, following closely on the heels of Playtech’s reported plans to sell Happybet.

A sale could attract major players seeking to expand their European footprint or private equity firms looking for strategic investments. However, ongoing legal liabilities and market volatility may influence buyer interest and valuation.

Bet-at-home’s reported plans to seek a buyer reflect the complex challenges and opportunities in today’s European gambling market. While the company navigates legal hurdles and regulatory scrutiny, its financial resilience underscores its value to potential investors.

As the German-focused gambling market experiences consolidation, this development, alongside Playtech’s Happybet sale, could significantly alter the landscape. For bet-at-home, a successful sale could provide the resources needed to address its challenges and solidify its position in the iGaming industry.

The coming months will determine whether bet-at-home can secure a suitor willing to navigate its intricate legal and operational landscape, potentially marking a new chapter for this longstanding industry player.

The post Bet-at-Home Considers Sale Amid Legal Challenges appeared first on Gamingo News.

Bet-at-home, a prominent European gambling operator, is reportedly seeking a buyer amidst significant legal and regulatory challenges. Despite these setbacks, the company posted impressive financial growth in 2024, fueled by major sports events and strategic marketing. A potential sale could reshape the German-focused gambling market, marking another major shift after Playtech’s Happybet announcement. Learn more
The post Bet-at-Home Considers Sale Amid Legal Challenges appeared first on Gamingo News.