bet-at-home (ACX:GF) is a long-established European sports betting brand with positive growth drivers: an increasing proportion of betting is being done online, including on mobile. Customer numbers have increased due to increased marketing investment over the 2016 UEFA Euro 2016 tournament, and this should pay off in 2017. Cash balances of €59.3m are expected to swell with the repayment of a €51m shareholder loan during 2017, part of which will be paid out as a special dividend in May. Betclic Everest owns 56%. In November, Bet at Home announced its best result’s since its founding in 1999 with an EBITDA of €12.3m euros in the third quarter of 2016. The gross gaming revenue will increase by 10% and reach the level of €134.0m in fiscal year 2016. The Group generated an EBITDA of €21.3m in the first three quarters as a result of increased marketing costs of €34.2m euros due to the European Football Championship in France.