bet-at-home - On target to reach top end of guidance
bet-at-home (BAH) has reported Q319 gross gaming revenues (GGR) of €35.7m and EBITDA of €5.6m, slightly above our estimates. We are therefore raising our FY19 GGR and EBITDA forecasts by 4.4% and 2.5%, respectively, so that they are now at the top end of guidance. As disclosed in September, BAH is liable for €11.9m of Austrian tax back payments and annual tax will also rise by c €5m, which reduces our normalised FY19 EPS by 16.6% . Including the tax liability, net cash was €33.3m at Q3119. Given the negative tax news, we now forecast a prospective dividend of €4/share (rather than €5/share) which equates to an 8.2% dividend yield.
- Unlock research summaries
- Follow top, independent analysts
- Receive personalised alerts
- Access Analytics, Events and more
Join 55,000+ investors, including top global asset managers overseeing $13+ trillion.
Upgrade later to our paid plans for full-access.
- bet-at-home - On target to reach top end of guidance04 Nov 2019