{"id":254,"date":"2024-06-27T02:06:38","date_gmt":"2024-06-26T23:06:38","guid":{"rendered":"https:\/\/juicyvegasnodepositbonus.icu\/2024\/06\/27\/bet-at-home-reports-decreased-earnings-and-increased-expenses-in-2022\/"},"modified":"2024-06-27T02:06:38","modified_gmt":"2024-06-26T23:06:38","slug":"bet-at-home-reports-decreased-earnings-and-increased-expenses-in-2022","status":"publish","type":"post","link":"https:\/\/juicyvegasnodepositbonus.icu\/2024\/06\/27\/bet-at-home-reports-decreased-earnings-and-increased-expenses-in-2022\/","title":{"rendered":"Bet-at-home Reports Decreased Earnings and Increased Expenses in 2022"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/P0zpZG-uH54\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>During the 2022 financial year, Bet-at-home&#8217;s earnings decreased while operational expenses rose considerably.<\/p>\n<p>Bet-at-home reported \u20ac53.5 million (\u00a347.5 million\/$57.1 million) in income in its 2022 annual report, a year marked by operational challenges.<\/p>\n<p>Bet-at-home&#8217;s income decreased by 9.7% compared to \u20ac59.3 million in 2021, primarily due to the company&#8217;s difficulties in 2022.<\/p>\n<p>Bet-at-home stated that the income decline was attributed to various factors, including the company&#8217;s withdrawal from the UK market.<\/p>\n<p>On July 7, the UK Gambling Commission suspended Bet-at-home&#8217;s permit. The commission stated that during the suspension, the company&#8217;s operations would be examined because there were &#8220;actions that may have violated the Gambling Act 2005.&#8221;<\/p>\n<p>The commission clarified that alleged shortcomings in anti-money laundering and social responsibility were the reasons for the permit suspension.<\/p>\n<p>Days later, on July 12, Bet-at-home announced that it would permanently leave the UK market and stated that it had &#8220;surrendered&#8221; its permit. In the announcement, Bet-at-home said that customers could no longer place bets through the company as of July 6.<\/p>\n<p>Later that month, on July 28, Bet-at-home announced that it would be reducing its workforce by 45 employees due to the outsourcing of certain services to EveryMatrix. <\/p>\n<p>At this time, the company anticipates that its 2022 earnings will be adversely affected by staff reductions.<\/p>\n<p>In the ninth month of the year, Bet-at-home issued a cautionary statement indicating that its liquidity risk had escalated due to its withdrawal from the Austrian market.<\/p>\n<p>**Complete Year 2022**<\/p>\n<p>Examining its performance for the entire year, Bet-at-home&#8217;s income was primarily driven by its online sports wagering operations. This segment generated a total income of \u20ac49 million, representing a 13.4% decrease compared to the previous year.<\/p>\n<p>Online gaming revenue, encompassing casino games and virtual sports offerings, contributed the remaining \u20ac4.5 million, exhibiting a substantial 60.7% year-over-year increase.<\/p>\n<p>After deducting \u20ac11.3 million in betting and gaming taxes (down 2.9%) and value-added tax, which doubled year-over-year to \u20ac99,000, the year&#8217;s net betting and gaming revenue amounted to \u20ac42 million. This represented an 11.6% decline.<\/p>\n<p>Other revenue sources experienced an increase of \u20ac3.4 million. Bet-at-home did not provide specific details regarding the composition of this additional income.<\/p>\n<p>Other operational expenditures surged by 128% to \u20ac16.2 million. Bet-at-home attributed this surge to several factors, including elevated legal and consulting fees, increased expenses associated with the liquidation of Bet-at-home Entertainment Group, and higher transaction costs.<\/p>\n<p>The company explained that transaction costs were elevated for the year due to the inability to capitalize certain costs in &#8220;discontinued operations.&#8221;<\/p>\n<p>Advertising expenses also saw an increase, albeit at a significantly lower rate of 14.8%. In contrast, personnel expenses declined by 27.4% to \u20ac13.5 million. <\/p>\n<p>This led to an operating profit of \u20ac2.1 million, a decrease of 83.9%.<\/p>\n<p>Subtracting \u20ac2.2 million in depreciation and amortization charges, the business experienced a loss of \u20ac105,000. After factoring in the cost of &#8220;financial outcomes,&#8221; the pre-tax profit was a loss of \u20ac690,000.<\/p>\n<p>However, a positive contribution of \u20ac1.2 million from income tax and earnings brought the profit from ongoing operations to \u20ac551,000. This figure was down 94.8% year-over-year.<\/p>\n<p>Including the \u20ac11.3 million result from discontinued operations, the full-year consolidated net profit was \u20ac11.9 million.<\/p>\n<p>**Looking Forward**<\/p>\n<p>Bet-at-home stated that it will concentrate on increasing outsourcing, revenue expansion, and &#8220;corresponding modifications to key procedures&#8221; in 2023.<\/p>\n<p>Intriguingly, the operator indicated that it intends to expand in its &#8220;primary markets&#8221; of Germany and Austria after shutting down its Austrian online casino operation in 2022.<\/p>\n<p>Financially, Bet-at-home stated that it anticipates total betting and gaming revenue to be between \u20ac50 million and \u20ac60 million in 2023.<\/p>\n<p>It also anticipates EBITDA to be between a loss of \u20ac3 million and a positive contribution of \u20ac1 million. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>During the 2022 financial year, Bet-at-home&#8217;s earnings decreased while operational expenses rose considerably. Bet-at-home reported \u20ac53.5 million (\u00a347.5 million\/$57.1 million) in income in its 2022 [&#8230;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bet-at-home Earnings Dip in 2022<\/title>\n<meta name=\"description\" content=\"Bet-at-home\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/juicyvegasnodepositbonus.icu\/2024\/06\/27\/bet-at-home-reports-decreased-earnings-and-increased-expenses-in-2022\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Bet-at-home Reports Decreased Earnings and Increased Expenses in 2022\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Bet-at-home\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/juicyvegasnodepositbonus.icu\/2024\/06\/27\/bet-at-home-reports-decreased-earnings-and-increased-expenses-in-2022\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Discover the Future of Casino Gaming | Licensed, Secure &amp; Exciting\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-26T23:06:38+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/juicyvegasnodepositbonus.icu\/2024\/06\/27\/bet-at-home-reports-decreased-earnings-and-increased-expenses-in-2022\/\",\"url\":\"https:\/\/juicyvegasnodepositbonus.icu\/2024\/06\/27\/bet-at-home-reports-decreased-earnings-and-increased-expenses-in-2022\/\",\"name\":\"Bet-at-home Earnings Dip in 2022\",\"isPartOf\":{\"@id\":\"https:\/\/juicyvegasnodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-26T23:06:38+00:00\",\"dateModified\":\"2024-06-26T23:06:38+00:00\",\"author\":{\"@id\":\"https:\/\/juicyvegasnodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Bet-at-home\",\"breadcrumb\":{\"@id\":\"https:\/\/juicyvegasnodepositbonus.icu\/2024\/06\/27\/bet-at-home-reports-decreased-earnings-and-increased-expenses-in-2022\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/juicyvegasnodepositbonus.icu\/2024\/06\/27\/bet-at-home-reports-decreased-earnings-and-increased-expenses-in-2022\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/juicyvegasnodepositbonus.icu\/2024\/06\/27\/bet-at-home-reports-decreased-earnings-and-increased-expenses-in-2022\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/juicyvegasnodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bet-at-home Reports Decreased Earnings and Increased Expenses in 2022\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/juicyvegasnodepositbonus.icu\/#website\",\"url\":\"https:\/\/juicyvegasnodepositbonus.icu\/\",\"name\":\"Discover the Future of Casino Gaming | Licensed, Secure &amp; Exciting\",\"description\":\"Indulge in the thrill of licensed online gambling with our up-to-date news, honest reviews, and expert articles. 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