Swiss Court Ruling on Bet-at-home.com's VAT Liability Becomes Final

In a recent judgment, the Swiss Federal Supreme Court has declared the VAT liability of bet-at-home.com AG's sports betting services in Switzerland as binding. This ruling affects the company's subsidiary, bet-at-home.com Internet Ltd, Malta, for operations conducted between 2014 and 2017.

The company previously set aside a provision of EUR 4.8 million to address potential tax liabilities, which it believes will cover all related costs, including interest. As of September 30, 2024, bet-at-home.com AG reported cash and cash equivalents amounting to EUR 34.165 million, with a slight increase since.

The company states that no revision of its 2024 fiscal forecast is necessary. Additionally, it anticipates no significant adverse effect on its Swiss operations following the court's decision.