Bet-at-home net profit slides in full-year results
Operator's net gaming revenues increase but net profit down 63% year-on-year.
Bet-at-home has posted a 63% year-on-year drop in net profit for the financial year ended 31 December 2012, however the Betclic Everest brand saw its gross gaming revenue rise 17.4% compared to the previous financial year
The European Football Championships last summer saw the operator increase its advertising expenses from 40.81m to 50.02m year-on-year, resulting in GGR climbing to 85.46m for the year.
The results are the first full-year figures since the departure of co-founder and former managing director Jochen Dickinger, with Michael Quatember replacing him in November, while parent company Betclic Everest also lost chief executive Ignacio Martos during the period.
Last month, the Malta-licensed company lost its appeal against its inclusion on the Belgian Gaming Commission’s blacklist of unlicensed operators, having argued that its blacklisting and associated internet service provider (ISP) blocks had violated its rights to free speech and free commerce in the EU Member State. Bet-at-home was also blacklisted in Denmark, however it was one of several operators to be awarded poker, casino and sports betting licences in Schleswig-Holstein.
Bet-at-home’s complaint over the tender process for the awarding of Austria’s lottery licence to Ãsterreichische Lotterien GmbH was also overlooked in January by Austria’s Constitutional Court, which argued that it did not contravene the country’s constitution.