SBC News Swiss drama sees bet-at-home 'peak performance' unlikely to be matched in 2019

Swiss drama sees bet-at-home ‘peak performance’ unlikely to be matched in 2019

Led by an effective period of successful new customer acquisitions, combined with the reactivation of its existing player base, Frankfurt Xetra-listed bet-at-home AG declares a ‘historical PEAK EBITDA’ of €36.2 million (2017: €35.5m) publishing its full-year 2018 results.

Updating investors bet-at-home records its highest-ever betting & gaming volume, breaking the €3 billion wagering mark supported by high-coverage advertising campaigns launched from May 2018, boosting the bookmaker’s brand recognition during World Cup Russia 2018 trading.

bet-at-home secures its record EBITDA target, despite the bookmaker recording a slight decline in gross betting/gaming revenues to €143.4 million (FY 2017: €145m) – attributed to higher European market betting fees and gambling levies totalling €21 million (FY 2017: 18.8m).

Closing its 2018 accounts, bet-at-home declares group consolidated profits of €32.6 million, in line with 2017 results and corporate expectations.

However, in its 2019 outlook, bet-at-home governance will maintain the company’s revenue expectations at €130-143 million range, as the company adjusts to ‘legal uncertainties in Switzerland’, which have appeared due to the approval of the Swiss Money Gaming Act.  

The bet-at-home board, details that the firm is unlikely to match 2018 results, with the firm’s 2019 EBITDA target lowered to €29-33 million range.

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