The board of bet-at-home AG has upgraded the full-year revenue guidance of the Frankfurt Boerse online gambling group
The upgrade follows a positive period of World Cup trading registered during the closing months of 2022.
Updating shareholders, “bet-at-home.com AG now expects its consolidated gross betting and gaming revenue (GGR) to stand in the range of €52 to €54 million in the financial year 2022 (previous: €45 million to €50 million).”
Despite improved FY2022 GGR results, bet-at-home will not upgrade its FY EBITDA guidance, which stands at a loss of €2m-to-€4m, as group results account for the impairment of discontinued Austrian market assets during H1 trading.
Corporate governance stated that it could “not conclusively determine to what extent risk provisions associated with former business activities will be required in the annual and consolidated financial statements for the financial year 2022.”
Bet-at-home continues to prioritise ‘reorganisation measures’ focused on delivering cost reductions on existing operations to channel savings into earnings-effective initiatives benefiting the growth of its online business.
Elsewhere, parent company FL Entertainment NV reported online gambling revenues of €591m (+6%), attributed to the improved performance of its BetClic subsidiary returning to growth in France.
Pan-European media and entertainment group Fl Entertainment continues to revise its 53% stake in bet-at-home alongside other investment assets following the group’s listing on the Amsterdam EuroNext Exchange.