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bet-at-home.com AG: Group figures for the first quarter 2024

EQS-News: bet-at-home.com AG / Key word(s): Quarter Results bet-at-home.com AG: Group figures for the first quarter 2024 14.05.2024 / 10:00 CET/CEST The issuer is solely responsible for the content of this announcement. CORPORATE NEWS

 

bet-at-home.com AG: Group figures for the first quarter 2024

 

Düsseldorf, 14 May 2024. The bet-at-home.com AG Group (hereinafter also referred to as "BaH Group") announces its first quarter 2024 financial results.

 

Major developments in the first quarter 2024

The Group's strategic transformation will be consistently continued in the 2024 financial year. In the area of technological development, the internal focus is made on the creation and introduction of an innovative customer loyalty programme based on real-time data processing and machine learning. In close cooperation with EveryMatrix, the online casino and sports betting product as well as the customer platform are being continuously improved and adapted to customer needs and legal requirements of the German-speaking market.

In the current financial year 2024, the BaH Group places its marketing focus on the first half of the year, notably on the beginning of the European Football Championship 2024, which will take place from mid-June to mid-July in the core market of Germany. As planned, marketing expenses in the first quarter 2024 were therefore above the previous year's value.

Revenue development in the first quarter 2024

Gross betting and gaming revenue in the first quarter 2024 amounted to EUR 11,737 thousand, which is 11.7% lower than in the same period of last year (1Q 2023: EUR 13,292 thousand). This decline resulted mainly from regulatory developments in the core market of Germany, particularly from the introduction of cross-product and cross-provider monthly betting limits in Germany effective from mid-2022, as well as the regulatory obligation to report increased deposit limits starting from the second quarter 2023.