Frankfurt Xetra-listed online bookmaker bet-at-home has credited its strong marketing investment for reporting €66.6 million betting and gaming revenue for H1 2018.
The operator also outlined that the elevated restrictions in Poland this year, led to its gross betting and gaming revenue declining 13.3% from the corresponding period in 2017.
In spite of the World Cup group stage taking place in the first half of this year, the group also saw a decline in the volume of bets for the current period, something that it also stated was down to the heightened restrictions on foreign operators in the Polish market.
Emphasising the current state of play in Poland, the group’s CEO Franz Ömer, told SBC earlier in the year that: “A modified gambling law came into force in Poland on 1 April 2017 under which sports betting licences are granted to foreign operators at unprofitable conditions. However, the casino offering is restricted exclusively to a state-owned company.
“We consider this to be contrary to the laws of the European Union, and since July 2017 we have been faced with blocking mechanisms that are in breach of EU law. It is therefore of even greater satisfaction that we can look back on such positive growth over the last financial year.”
Mapping out plans for the rest of 2018, the group outlined: “From the current perspective, and assuming an unchanged regulatory and tax law environment, the Management Board expects gross betting and gaming revenue increasing to €150 million in the 2018 fiscal year. Furthermore, the Management Board assumes EBITDA to reach a level between €36 million and €40 million in 2018.”