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Original-Research: bet-at-home.com AG (von NuWays AG): BUY
NuWays AG reiterated a BUY recommendation on bet-at-home.com AG and set a 12-month target price. The research expects Q3 results, due November 5, to show higher revenue and profit, led by Gaming growth; these are forecasts, not reported results.
Published:
Updated:
What happened
NuWays AG reiterated a BUY recommendation on bet-at-home.com AG and set a 12-month target price. The research expects Q3 results, due November 5, to show higher revenue and profit, led by Gaming growth; these are forecasts, not reported results.
Confirmed
Global impact / market context
If the forecast is borne out, stronger Gaming activity and a larger share of Gaming revenue could lift sales while reducing the tax burden relative to gross gaming revenue (GGR, the amount wagered before deductions). That could support profit, but the article does not report actual Q3 results.
Analyst inference
NuWays expects Gaming to drive volume growth, while Betting also contributes. If the forecast higher Gaming share reduces the tax burden as described, more gross gaming revenue could translate into net revenue, but the article provides estimates rather than confirmed results.
Analyst inference
What to watch
- Check the November 5 Q3 release against NuWays’ forecast for GGR growth of 9.3% to €11.2 million and net revenue growth of 11.1% to €8.5 million. Confirmed
- Compare reported online Gaming GGR and volume with the forecast rises of 23.6% to €2.1 million and 24% to 17.4 million, respectively. Confirmed
- Look for evidence that internal optimization improved Betting’s profit per sale and that Gaming’s greater revenue share lowered taxes; both are forecast drivers, not confirmed outcomes. Analyst inference