bet-at-home (XETRA: ACXX)

Currency in EUR

Last close As at 25/09/2023

EUR3.80

−0.04 (−1.04%)

Market capitalisation

EUR27m

Founded in 1999, bet-at-home (BAH) is an online sports betting and gaming company, licensed in Malta and headquartered in Düsseldorf, Germany. Since 2009 BAH has been part of BetClic Everest, a privately owned gaming company, which currently holds 53.9% of BAH’s shares.

Latest Insights

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Consumer | research

bet-at-home — FY22 GGR guidance raised

Consumer | Update

bet-at-home — Navigating challenges in 2022

Consumer | Outlook

bet-at-home — A year of consolidation

Consumer | Update

bet-at-home — FY21 guidance reiterated

Sector

Consumer

Equity Analyst

Russell Pointon

Russell Pointon

Director, Consumer

Key Management

  • Marco Falchetto

    CEO

Balance Sheet

Forecast net debt (€m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (1.6) (6.2) (33.9)
Relative (0.1) (3.6) (47.3)
52 week high/low €8.8/€3.6

Financials

bet-at-home’s (BAH’s) Q322 profitability was helped by cost-saving initiatives, particularly lower personnel expenditure, which offset lower quarter-on-quarter betting volumes. After the Q322 update, management raised FY22 gross gaming revenue (GGR) guidance due to positive trading around the FIFA World Cup. Management has maintained FY22 EBITDA guidance, which includes ongoing uncertainty from the effect of risk provisions associated with former business activities, and the effect of increased marketing spend for the tournament.

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2020A 54.6 13.2 11.0 128.50 3.0 0.9
2021A 59.3 14.0 11.4 152.45 2.5 1.9
2022E N/A N/A N/A N/A N/A N/A
2023E N/A N/A N/A N/A N/A N/A

Research

Update

Consumer

bet-at-home — Improving momentum

edison tv

Consumer

bet-at-home – executive interview

edison tv

Consumer

Executive interview – bet-at-home at EKF 2019

Update

Consumer

bet-at-home — A closer look at German regulation

Update

Consumer

bet-at-home — Solid H119 underpins FY19 guidance

Update

Consumer

bet-at-home — A strong start to the year

Initiation

Consumer

bet-at-home — Consistent cash generation

edison tv

Consumer

Executive interview – Bet-at-home

QuickView

Consumer

bet-at-home — Guidance maintained with strong Q318

QuickView

Consumer

bet-at-home — NO SUBTITLE

QuickView

Consumer

bet-at-home — Marketing investment pays off

edison tv

Consumer

Executive Interview – bet-at-home.com (Deutsch)

edison tv

Consumer

Executive Interview – bet-at-home.com (English)

QuickView

Consumer

bet-at-home — Update 28 September 2016