AD-HOC INFORMATION

PUBLICATION OF INSIDER INFORMATION PURSUANT TO ARTICLE 17 OF REGULATION (EU) NO. 596/2014

 

 

Judgment of the Swiss Federal Supreme Court on the VAT liability of sports betting has become legally binding

 

Düsseldorf, November 11, 2024

bet-at-home.com AG (hereinafter referred to as the "Company") announced on July 11, 2024 that the Swiss Federal Supreme Court had ruled that offering of sports betting services in Switzerland by the Company's subsidiary, bet-at-home.com Internet Ltd, Malta, is subject to VAT. The Company has been informed today that this ruling, which relates to the period from 2014 to 2017, was confirmed by the court of last instance.

The Company had already recognized a provision of EUR 4.8 million as of 30.09.2024 in this regard (see also the Group Quarterly Statement as of 30.09.2024) and has since adjusted this provision. Therefore, in the Company's opinion, expected additional tax payments (including interest) are covered by the provision. Cash and cash equivalents within the bet-at-home.com AG Group totalled EUR 34.165 million as of September 30, 2024, and has increased slightly since then.

An adjustment of the forecast for the 2024 fiscal year published on November 5, 2024, is not required. Furthermore, the ruling is not expected to have any significant negative impact on business activities in Switzerland.

 

 

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