Betclic Everest-owned online operator Bet-at-home.com has announced its financial results for the first quarter of 2021, showing gross gaming revenue (GGR) of €30.5m, down 5.5% year-on-year.
Bet-at-home said that the reduction in revenue was due to transitional regulation brought into effect in the German market, which meant that operators may offer online casino only if they adhere to the future licensing conditions that will come into effect officially from 1 July.
The operator received its German sports betting licence in November 2020, and expects to secure its online casino licence in the jurisdiction later in 2021 after the final state approved the state treaty legalising igaming last week.
Bet-at-home’s GGR came from betting and gaming turnover of €515.2m, €139.0m of which came from sports betting, with the remainder coming from online gaming. The total gambled with Bet-at-home was down 24.0% from €677.8m in Q1 2020.
Marketing expenses stood at €7.4m for the period, up 12.1% ..