Gaming operator Bet-at-home issued a trading update wherein they warned that there's an increased risk of the company being unable to meet financial obligations after they experienced a drop in liquidity by leaving the Austrian game market.
The company lost a court case last year against players in Austria seeking reparations from casino operators that didn't have a license in the country. After this loss, Bet-at-home decided to leave the country afterward. The operator also gave up its UK license earlier this year after the UKGC found multiple social responsibility and anti-money laundering failings within the operation.
The impact of this has led to Bet-at-home claiming a medium risk for its liquidity due to cash flow issues.
A report compiled by the company states: "If the bet-at-home.com AG Group is unable to provide corresponding collateral in the form of bank guarantees, existing cash and cash equivalents would have to be deposited as security.
"The remaining freely available liquidity could prove to be critical even in the event of minor negative deviations from the existing planning if, in addition, a significant reduction in liquidity were to occur due to payments to Bet-at-home.com Entertainment Ltd and to the Maltese tax authorities"
Casino Listings News is following this story and will update readers as appropriate..
|Bet-at-home Casino||Malta, U.K.|