bet-at-home company is to be wound up – bet-at-home shares are losing money
In the course of its problems in Austria, the listed online betting and gaming provider bet-at-home wants to set up its Maltese company, bet-at-home.com Entertainment Ltd. transact.
An economic continuation is not possible, the company can no longer service its liabilities with existing or independently generated funds. However, there are no effects on customer credit or existing activities in the core markets.
The gaming company, which operates with a Maltese license, has been struggling with legal problems in Austria for a long time. After a decision by the Supreme Court in Vienna, the company said it was unclear whether it could enforce its view of being a legitimate online casino provider in Austria before Austrian courts. Accordingly, the online casino offer in Austria was discontinued in October.
It is not foreseeable that the online casino in Austria will be offered again in the near future. Therefore, the board of directors and the supervisory board came to the conclusion that the continuation of the Maltese company was not possible and that a liquidation was necessary. The consequence of the liquidation procedure is that the Maltese company will be deconsolidated from the consolidated financial statements of bet-at-home AG.
Player credit from customers and the rest of the business in the core markets are not affected by the settlement. “Bet-at-home.com AG does not expect the liquidation of bet-at-home.com Entertainment Ltd. to have any significant impact on the Group’s ongoing business activities, as the discontinuation of the online casino in Austria is the essential operational one The business of the Maltese bet-at-home.com Entertainment Ltd. has ceased to exist, “said a broadcast on Wednesday.
In XETRA trading, bet-at-home shares temporarily lose 1.03 percent to 13.40 euros.