Bet-at-home temporarily suspends operations of Austrian online casinos
At a meeting on Monday, the board decided to suspend online casino activity in the country as the company faces legal claims from customers for reimbursement for gambling losses in the casino. . The group considers it âlawfulâ and considers that the monopoly of online casinos on Austrian national gambling regulations is âcontrary to European lawâ. The resumption of online casino operations will be subject to changes in the legal framework.
Bet-at-home.com AG Group announced on Monday that he temporarily stops its online casino offer in Austria, and record other provisions due to legal proceedings against players for reimbursement of gambling losses.
Board of directors decided at a meeting on Monday with the Supervisory Board to suspend the online casino offer in the country. This is because, even though the company considers itself lawful, the pursuit of the activity before final legal clarification over a period that is currently unpredictable would lead to a constantly increasing risk potential which appears globally indefensible.
The Germany-based company had previously announced that it in the face of legal claims from customers for reimbursement of gambling losses in the online casino.
In a press release released by the company, The bet-at-home.com AG group has stated that it still considers the online casino monopoly of Austria’s national gambling regulations to be “contrary to European law” and considers itself a “casino supplier”. online legal in Austria â.
Regarding the need arising from the current case law of the European Court of Justice for recurrent review also by Austrian courts, The bet-at-home.com AG group considers that this is not taking place to the extent required and has so far assumed a positive development in case law, in particular with the higher courts of appeal bodies, until at the end of the first half of 2022.
However, due to a recent decision of the Austrian Supreme Court, it is now unclear whether the bet-at-home.com AG group will be able to enforce its legal opinion in Austrian courts for the foreseeable future.
The decision to take over the online casino offer in Austria will be taken in the future depending on the evolution of the legal framework., and the company âwill continue to use all available legal means to take action against legal proceedings brought in Austriaâ.
The Management Board also decided to record other provisions for customer disputes in reimbursement of player losses that were pending in Austria to date.
Therefore, the company expects gross betting and gaming revenues of between $ 108 and 114 million for the bet-at-home.com AG group in fiscal year 2021 and negative EBITDA of between -16.3 and -11 , $ 6 million, which includes expenses of $ 28.6 million related to the lawsuits of Austrian clients.
Depending on the decision of the Austrian tax authorities, the Company assumes that deductions on games representing 40% of the amounts concerned must be reimbursed to the bet-at-hom.com AG group on the losses of the players to be reimbursed. However, due to legal uncertainties, these amounts are not used to reduce the aforementioned expenses and are not capitalized.