Online operator Bet-at-Home has seen its share price in Poland drop by 10% in recent weeks, and the operator has blamed the blacklist in Poland for its huge decline in revenue.
The operator, which is listed in Frankfurt, which has been blacklisted by Poland for just over a year, has seen it’s gaming and betting gross revenue fall over the last six months. A financial statement released by the operator shows that from the beginning of the year to the end of June, they made a total of 66 million Euros, a 13% decline as compared to the same revenue from 2017.
They confirmed in their H1 statement that group betting and gaming volume had decreased by 10% year-on-year to 1.5 billion Euros. EBITDA of 11 m Euros was also down compared to last year’s 17.4 million Euros, partly because of the high costs of the FIFA World Cup.
Bet-at-Home explained that the main reason for the decline in betting and gaming revenue was the blocking measures put in place by the Polish government, which block all foreign betting and gaming operators. The block was put in place in July 2017, and has been called a “violation of European legislation,” according to Bet-at-Home.
The operator was one of the very first to be hit by the blacklist during the start of July last year, which took place three months after legislation was put in place that allowed unsolicited companies from offering gambling services to citizens of Poland.
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