Bet-at-Home shuts down Malta branch following loss of Austria operations

Bet-at-home announced in October of last year that it would cease offering an online casino in Austria. This decision was made in response to a legal proceeding in Austria in which several players were seeking reimbursement for losses they suffered from unlicensed operators. Casinos Austria is the only company licensed to operate an online casino in the country.

Bet-at-home stated that it was confident that it would win the case but it wasn't clear how long it would take. It stated that continuing to offer an online casino would result in a steadily rising risk potential that seems unjustifiable overall.

The business announced a restructuring plan, in which 65 employees were laid off and close to 200 employees are left.

Bet-at home's supervisory board and management decided last month that it was not possible for Maltese Bet.at-home.com Entertainment Ltd. to continue as a "going concern" and must be closed down. The operator noted that the Austrian-based online casino was the "main business activity" and it was not able to pay its liabilities without it.

The company asserted that the winding down of Bet-at.home.com Entertainment would not affect the customer's player balances.

Bet-at-Home announced the withdrawal of its online casino from Austria. This announcement reduced the company's revenue and earnings forecasts for 2021. Now, the business projects revenues of €93 million to €98 million ($105.1 million to $110.7 million). This is in contrast to the €100 million to €110 million ($113 million to $124 million) range it projected after publishing its August first-half results.

Bet-at-home stated that it was not expecting any further earnings loss from the shuttering of its Malta business, as its primary source of income was already gone.

The operator stated that the winding down of Maltese Bet-at-Home Entertainment Ltd. has no impact on existing activities, especially in key markets like Germany, Austria and the UK. In addition, work continues to open new markets for future growth.

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