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Segmental information (Tables) | 12 Months Ended
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Dec. 31, 2023
Segmental information |
Summary of segment Adjusted EBITDA represents Adjusted EBITDA excluding unallocated corporate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, 2023
​ |  | ​ |  | RoW |  | ​ |  | Total |  | ​ |  | ​
​ |  | RoW |  | Betting |  | United |  | reportable |  | All other | ​ | ​
in €‘000 | ​ | Betting |  | AV | ​ | States |  | segments | ​ | segments | ​ | Total
Segment revenue |  | 466,823 |  | 182,196 |  | 165,512 |  | 814,531 |  | 63,090 |  | 877,621
Segment Adjusted EBITDA |  | 209,562 |  | 52,211 |  | 18,893 |  | 280,666 |  | (6,328) |  | 274,338
Amortization of sport rights |  | (42,646) |  | (65,042) |  | (51,142) |  | (158,830) |  | (1,187) |  | (160,017)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, 2022
​ |  | ​ |  | RoW |  | ​ |  | Total |  | ​ |  | ​
​ |  | RoW |  | Betting |  | United |  | reportable |  | All other |  | ​
in €‘000 |  | Betting | ​ | AV | ​ | States | ​ | segments | ​ | segments | ​ | Total
Segment revenue |  | 389,092 |  | 160,522 |  | 127,442 |  | 677,056 |  | 53,132 |  | 730,188
Segment Adjusted EBITDA |  | 182,439 |  | 46,494 |  | (4,141) |  | 224,792 |  | (13,348) |  | 211,444
Amortization of sport rights |  | (40,093) |  | (66,402) |  | (33,705) |  | (140,200) |  | — |  | (140,200)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, 2021
​ |  | ​ |  | RoW |  | ​ |  | Total |  | ​ |  | ​
​ | ​ | RoW | ​ | Betting | ​ | United | ​ | reportable | ​ | All other | ​ | ​
in €‘000 | ​ | Betting | ​ | AV | ​ | States | ​ | segments | ​ | segments | ​ | Total
Segment revenue |  | 309,357 |  | 140,162 |  | 71,700 |  | 521,219 |  | 39,983 |  | 561,202
Segment Adjusted EBITDA |  | 176,987 |  | 39,246 |  | (22,625) |  | 193,608 |  | (5,746) |  | 187,862
Amortization of sport rights |  | (16,101) |  | (56,266) |  | (21,946) |  | (94,312) |  | — |  | (94,312)
Summary of reconciliations of information on reportable segments to the amounts reported in the financial statements | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
in €‘000 |  | 2023 |  | 2022 |  | 2021
Segment Adjusted EBITDA |  | 274,338 |  | 211,444 |  | 187,862
Finance income |  | 12,848 |  | 5,250 |  | 5,297
Finance costs |  | (33,731) |  | (41,447) |  | (32,540)
Depreciation and amortization | ​ | (206,362) | ​ | (184,813) | ​ | (129,375)
Amortization of sport rights |  | 160,017 |  | 140,200 |  | 94,312
Foreign currency gains, net |  | 23,205 |  | 26,690 |  | 5,437
Share-based compensation |  | (39,712) |  | (28,637) |  | (15,431)
Restructuring costs |  | (8,005) |  | (5,528) |  | —
Non-routine litigation costs |  | — |  | (19,045) |  | —
Share in loss of equity-accounted investee2 |  | (3,699) |  | (3,985) |  | —
Loss on disposal of equity-accounted investee |  | (13,604) |  | — |  | —
Impairment loss on goodwill and intangible assets |  | (9,854) |  | — |  | —
Impairment (loss) income on other financial assets |  | (202) |  | 5 |  | (5,889)
Remeasurement of previously held equity-accounted investee |  | — |  | 7,698 |  | —
Professional fees for SOX and ERP implementations | ​ | (505) | ​ | (4,298) | ​ | —
One time charitable donation for Ukrainian relief activities | ​ | — | ​ | (146) | ​ | —
Unallocated corporate expenses1 | ​ | (107,538) | ​ | (85,598) | ​ | (85,849)
Net income before tax and discontinued operations |  | 47,196 |  | 17,790 |  | 23,824
1 | Unallocated corporate expenses primarily consist of salaries and wages for management, legal, human resources, finance, office, IT and other costs not allocated to the segments.
2 | Represents non-cash losses unrelated to the Company’s core businesses and which management does not consider indicative of the Company’s ongoing operations because the equity-accounted investee, SportTech AG, operates on a business-to-consumer model as opposed to the Company’s core businesses that operate on a business-to-business model.
Summary of revenue based on the geographic location of customers and assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue |  | Years Ended December 31,
in €‘000 |  | 2023 |  | 2022 |  | 2021
US | ​ | 144,185 | ​ | 123,677 | ​ | 67,093
Malta | ​ | 105,596 | ​ | 95,696 | ​ | 70,529
United Kingdom | ​ | 81,759 | ​ | 78,472 | ​ | 68,688
Switzerland | ​ | 9,152 | ​ | 10,822 | ​ | 7,397
Other countries1 | ​ | 536,929 | ​ | 421,521 | ​ | 347,495
Total |  | 877,621 |  | 730,188 |  | 561,202
​
​ | ​ | ​ | ​ | ​
Non-current assets |  | As of December 31,
in €‘000 |  | 2023 |  | 2022
Switzerland |  | 1,307,794 |  | 499,715
Germany |  | 59,535 |  | 61,051
United States |  | 225,759 |  | 240,635
Other countries1 |  | 183,351 |  | 152,132
Total |  | 1,776,439 |  | 953,533
1No individual country represented more than 10% of the total.

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