bet-at-home has renewed its online gambling licences in Germany, highlighting its commitment to growth on home territory.
The Düsseldorf-based company announced that it had been granted approval by the Darmstadt Regional Council on December 22, allowing it to renew its sports betting licence to operate in Germany’s Fourth Interstate Gambling Treaty (GlüNeuRStv) regime.
This licence renewal was followed by bet-at-home being granted approval to launch an online slots licence by the State Administration Office in Saxony-Anhalt on December 28.
Both licences will remain valid until 31 December 2027 and guarantee bet-at-home’s legal presence within Germany’s reformed GlüNeuRStv market.
Marco Falchettov, Bet-at-home Chair, explained: “With the obtaining of permissions for all product categories offered, bet-at-home creates complete legal and planning security for the group, their investors and business partners in Germany.”
Last year, poor trading saw the company hindered by the ‘compounded effects’ of its Austrian market exit and the subsequent downsizing of its Malta subsidiary, which resulted in a x6 interim EBITDA decline down to €1m.
In response to these struggles, bet-at-home undertook group-wide restructuring and reduced the headcount of its workforce to 170 staff members, losing 65 employees.
In an end-of-year update, bet-at-home revealed improved group GGR results, but stated that full-year losses would be in the expected range of €2 to €4m for 2022.
These results saw parent company FL Entertainment notify investors that it had placed its 53 per cent stake in bet-at-home under strategic review, alongside other ‘underperforming assets’.