Bet-at-home has ceased its Maltese operations after choosing to discontinue providing online casino services in Austria last October.
The company had previously revealed plans to cease offering online casino services in Austria in October. This decision was made due to a legal case in Austria where several players are attempting to reclaim funds from unauthorized gambling websites. Austrian Casinos is the sole authorized gambling site in Austria.
Bet-at-home stated that they still believe they will prevail in the lawsuit, but they are uncertain about the duration of the legal proceedings. They also indicated that continuing to offer online casinos in Austria would pose an excessive risk.
This has prompted the company to reorganize and dismiss 65 employees, leaving approximately 200 employees.
Last month, Bet-at-home’s management and board determined that their Maltese subsidiary could no longer function and had to be shut down.
The company highlighted that online gambling sites in Austria have been a “key operation” run from Malta, and without this income, it would not be able to settle its financial obligations.
“Clients’ account balances are not influenced by the closure of Bet-at-home.com Entertainment,” the company emphasized.
In announcing its decision to cease its online casino operations in Austria, Bet-at-Home has reduced its revenue and earnings projections for the 2021 year. The company now anticipates revenue to be between €93 million and €98 million, compared to the €100 million to €110 million predicted after the mid-year report released in August.
Bet-at-home stated that the shutdown of its Malta operations will not have any additional impact on its profitability, as its primary source of income has already vanished.
“Consequently, the liquidation of Bet-at-home.com Entertainment Ltd in Malta has no effect on existing activities, particularly in major markets such as Germany, Austria, the UK and Ireland,” the company stated. “Moreover, efforts are underway to cultivate new markets to ensure future expansion.”
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