Shares in bet-at-home.com were down 4 per cent in Frankfurt Wednesday morning after the company confirmed court approval of a €2.8 million claim by a customer.
The ruling by the Supreme Court of Austria finds that bet-at-home.com Entertainment Ltd. is liable for a gambling addict’s losses and interest totalling €2.8 million.
The court ruled in favour of the plaintiff after concluding that his addiction meant he was legally incapacitated when gambling online.
The ruling holds two Malta companies liable, bet-at-home.com Entertainment Ltd., which is in liquidation, and bet-at-home.com Internet Ltd., both subsidiaries of Frankfurt-listed bet-at-home.com AG.
“bet-at-home.com Internet Ltd. did not offer online gaming services as a contractual partner to the plaintiff; bet-at-home.com Entertainment Ltd. (in liquidation) was the sole contractual partner,” the company said in a statement in response to the ruling.
“However, the Supreme Court assumes that bet-at-home.com Internet Ltd. is liable for gambling losses incurred in this case under tort law.”
The statement added: “bet-at-home.com Internet Ltd. and the Company are assessing which impact the decision of the Supreme Court might have on the Company’s recent forecast for the 2024 financial year. Any claims for reimbursement or compensation or other compensatory claims against bet-at-home.com Entertainment Ltd. should also be determined and taken into account if applicable.”
bet-at-home.com Entertainment Ltd. already has a provision of €2.3 million in relation to the Supreme Court case.
Shares in bet-at-home.com AG (ETR:ACX) were trading 4.02 per cent lower at €3.58 per share in Frankfurt Wednesday morning.