Bet-at-home secures German licence amid European struggles
Betclic Everest Group-owned firm secures five-year licence in its native Germany after facing regulatory headwinds across Europe
Bet-at-home has secured a five-year licence in Germany to offer sports betting and online slots following regulatory approval by the Darmstadt Regional Council in Hesse and the State Administration Office in Saxony-Anhalt.
Both of these licences will last initially until 31 December 2027.
Marco Falchetto, bet-at-home chairman, said: “With the obtaining of permissions for all product categories offered, bet-at-home creates complete legal and planning security for the group, its investors and business partners in Germany.”
The commitment to Germany from the operator goes against the industry trend which has seen several operators pull out of the market due to its restrictive nature
Regulatory headwinds had previously hit the operator in Germany in 2021, which saw it post an 8.8% downturn in H1 2021 revenue compared to the previous year.
Bet-at-home has faced several difficulties across various European markets outside of its native Germany.
Its Austrian subsidiary had its licence suspended in October 2021, which led to the operator sanctioning 65 redundancies as part of a cost reduction programme.
There were further difficulties in the Central European markets as the Swiss Supreme Court upheld its prior ruling, which denied the operator from offering its services in the region.
Bet-at-home also exited the UK market in July 2022 after the UK Gambling Commission (UKGC) suspended its licence for suspected failings in its social responsibility and anti-money laundering practices.
The firm also axed 27% of its workforce following an outsourcing agreement to supplant the operator’s in-house platform with EveryMatrix’s tech stack.
All of these issues have led to bet-at-home anticipating full-year losses in the range of between €2m (£1.76m) and €4m.