Issuing a short corporate statement Betclic Everest Group has confirmed that it will reduce its majority shareholding in Frankfurt-listed European betting operator bet-at-home AG by approximately 10%.
The Malta based online betting operator which owns circa 67% of bet-at-home equity, will look to place 350,000 of its share capital for sale.
Updating stakeholders’ and the market, Betclic governance issued the following statement
“With this measure, Betclic Everest Group supports the strategy of the management board of bet-at-home.com which aims to increase the presence of the company in the capital market, its free float and the liquidity of the shares. There are no existing plans to sell further shares of bet-at-home.com.”
Despite the planned sale of 10% of its shares, Betclic detailed that it was committed to maintaining its position as main shareholder for bet-at-home operations.
Following a corporate restructure focusing on operational and marketing cost initiatives, European online betting operator bet-at-home has posted two consecutive years of revenue growth and positive EBITDA earnings.
In its latest corporate update, the operator has targeted a 2016 performance of €136 million in revenues combinied with EBITDA forecast of €30 million.