Bet-at-home Shuts Down Malta Operations

Bet-at-home has declared the shutting down of its Malta operations, following the organization’s choice to cease offering online gambling services in Austria last October.

In Austria, the firm revealed in October its plans to discontinue offering online casino services. This choice came after legal action was taken against the company in Austria, with some players seeking reimbursement for losses incurred at unlicensed operators. The Austrian Casino is the only authorized operator in the nation to offer online gambling.

At the time, Bet-at-home stated that it still believed it would ultimately prevail in the case, but added that it was unclear how long this would take. Consequently, the company said that continuing to provide online casinos would lead to “increasingly possible dangers that overall seemed indefensible.”

This has already prompted the organization to declare a restructuring plan that will see 65 employees let go, leaving nearly 200 employees.

Last month, Bet-at-home’s management and supervisory board subsequently decided that “Bet-at-home.com Entertainment Ltd in Malta cannot continue to function” and therefore must be dissolved.

The company representative declared that Austrian internet gambling sites have been a “primary business” run from Malta, and without this income, it would be unable to settle its financial obligations.

“Client account balances are not impacted by the dissolution of Bet-at-home.com Entertainment Limited,” the company stated.

In revealing its choice to pull back its internet casino operations from Austria, Bet-at-Home reduced its income and profit projections for the 2021 year. The firm now anticipates revenue to be between €93 million and €98 million, compared to its prior forecast of €100 million to €110 million announced in its mid-year report in August.

Bet-at-home stated that the closure of its Maltese operations would not have any additional effect on its earnings, as its primary source of income had already stopped.

“As a result, the liquidation of Bet-at-home.com Entertainment Limited in Malta has no effect on existing business, especially in key markets such as Germany, Austria, the UK and Ireland,” the company said. “Moreover, efforts are in progress to cultivate new markets to ensure future expansion.”

Sign up for the iGaming news newsletter.