Group figures for the first quarter of 2021:
- Gross betting and gaming revenue at EUR 30.5 million
- EBITDA in the first quarter of 2021 at EUR 6.9 million
- Cash and short-term time deposits at EUR 59.4 million
Revenue development in Q1 2020:
In addition to the award of national sports betting licenses since the fourth quarter of 2020, a significant step towards liberalisation is also foreseeable in the product segment of online gaming in the core market of Germany with the new State Gambling Treaty, which comes into force in mid-2021. Accordingly, a national licensing system is also envisaged for online slots in addition to the sports betting product for the first time from July 1, 2021. In addition, it will be possible to open up the market for classic online casino games such as roulette and blackjack at the level of the federal states from this date.
Since the fourth quarter of 2020, a transitional regulation has come into force, according to which those gaming providers will remain exempt from enforcement measures and sanctions that comply with the licensing regulations for online casinos imposed in the future as of this date.
Although the implementation of these requirements lead to significant revenue losses in the online casino segment within the bet-at-home.com AG Group, the significantly increased legal certainty and the ability to plan the future development of bet-at-home as an established provider with considerable brand awareness in the core market of Germany outweigh this.
Overall, gross betting and gaming revenue in Q1 2021 amounts to EUR 30.5 million, down 5.5% year-on-year (Q1 2020: EUR 32.2 million).
Earnings development in the first quarter 2021:
At EUR 7.4 million, marketing expenses in the first quarter of 2021 are higher than in the same period of the previous year (Q1 2020: EUR 6.6 million) due to increased advertising and sponsoring activities. Corresponding to the regulatory-induced decline in sales in Germany, other operating expenses in particular were successfully reduced to EUR 4.7 million (Q1 2020: EUR 5.2 million).
Thus, EBITDA in the first quarter of 2021 is EUR 6.9 million (Q1 2020: EUR 9.0 million).
Bet-at-home.com AG Group also had cash and short-term time deposits of EUR 59.4 million as of 31 March 2021.