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Intangible assets and goodwill (Tables) | 12 Months Ended
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Dec. 31, 2023
Intangible assets and goodwill |
Schedule of Intangible and goodwill | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | ​ |  | ​ |  | Internally- |  | ​ |  | ​
Cost | ​ | Brand | ​ | Customer | ​ | ​ | ​ | ​ | ​ | developed | ​ | ​ | ​ | ​
in €‘000 | ​ | name | ​ | base | ​ | Licenses | ​ | Technology | ​ | software | ​ | Goodwill | ​ | Total
Balance as of January 1, 2022 |  | 8,993 |  | 68,273 |  | 690,345 |  | 83,445 |  | 48,126 |  | 258,993 |  | 1,158,175
Additions |  | — |  | — |  | 93,346 |  | 8,915 |  | 17,730 |  | — |  | 119,991
Additions through acquisitions (Note 3) |  | 3,901 |  | 6,721 |  | 61 |  | 17,469 |  | — |  | 49,316 |  | 77,468
Disposals |  | — |  | — |  | (42,186) |  | (5,800) |  | (1,291) |  | — |  | (49,277)
Disposal due to reduction in service potential |  | — |  | — |  | (646) |  | — |  | — |  | — |  | (646)
Translation adjustments |  | 283 |  | 976 |  | 706 |  | 3,572 |  | 374 |  | 7,505 |  | 13,416
Balance as of December 31, 2022 |  | 13,177 |  | 75,970 |  | 741,626 |  | 107,601 |  | 64,939 |  | 315,814 |  | 1,319,127
Additions |  | — |  | — |  | 1,023,457 |  | 6,324 |  | 28,301 |  | — |  | 1,058,082
Additions through acquisitions |  | — |  | — |  | — |  | 2,718 |  | — |  | 4,236 |  | 6,954
Disposals | ​ | (71) | ​ | (776) | ​ | (226,020) | ​ | (3,000) | ​ | (5,170) | ​ | — | ​ | (235,037)
Disposal due to reduction in service potential | ​ | — | ​ | — | ​ | (4,077) | ​ | — | ​ | — | ​ | — | ​ | (4,077)
Translation adjustments | ​ | (78) | ​ | (619) | ​ | (127) | ​ | (2,258) | ​ | (1,545) | ​ | (5,652) | ​ | (10,279)
Balance as of December 31, 2023 | ​ | 13,028 | ​ | 74,575 | ​ | 1,534,859 | ​ | 111,385 | ​ | 86,525 | ​ | 314,398 | ​ | 2,134,770
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accumulated amortization and impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |
€‘000 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance as of January 1, 2022 |  | (6,442) |  | (28,206) |  | (265,136) |  | (18,821) |  | (20,257) |  | (10,841) |  | (349,703)
Amortization |  | (1,039) |  | (6,543) |  | (144,065) | 1 | (13,402) |  | (7,782) |  | — |  | (172,831)
Disposals |  | — |  | — |  | 42,186 |  | 5,800 |  | 1,290 |  | — |  | 49,276
Translation adjustments |  | (228) |  | (224) |  | (390) |  | (21) |  | (390) |  | (984) |  | (2,237)
Balance as of December 31, 2022 |  | (7,709) |  | (34,973) |  | (367,405) |  | (26,444) |  | (27,139) |  | (11,825) |  | (475,495)
Amortization |  | (1,246) |  | (6,664) |  | (161,279) | 1 | (13,728) |  | (8,849) |  | — |  | (191,766)
Impairment (Note 13.1) |  | (311) |  | (1,142) |  | — |  | (1,908) |  | — |  | (6,493) |  | (9,854)
Disposals |  | 71 | ​ | 776 | ​ | 227,800 | ​ | 3,000 | ​ | 5,170 | ​ | — | ​ | 236,817
Translation adjustments |  | 60 |  | 144 |  | 569 |  | 864 |  | 901 |  | 321 |  | 2,859
Balance as of December 31, 2023 |  | (9,135) | ​ | (41,859) | ​ | (300,315) | ​ | (38,216) | ​ | (29,917) | ​ | (17,997) | ​ | (437,439)
Carrying amount |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of December 31, 2022 |  | 5,468 |  | 40,997 |  | 374,221 |  | 81,157 |  | 37,800 |  | 303,989 |  | 843,632
As of December 31, 2023 |  | 3,893 |  | 32,716 |  | 1,234,544 |  | 73,169 |  | 56,608 |  | 296,401 |  | 1,697,331
1 | Includes €160.0 million and €140.2 million of sport rights amortization for the years ended December 31, 2023 and 2022, respectively.
Schedule of company's internally developed software cost | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Years Ended December 31,
in €‘000 | ​ | 2023 |  | 2022 |  | 2021
Personnel expenses |  | 21,773 |  | 15,560 |  | 11,592
Purchases services and licenses (excluding depreciation and amortization) |  | 6,528 |  | 2,170 |  | 202
Internally-developed software cost capitalized |  | 28,301 |  | 17,730 |  | 11,794
Schedule of carrying amount of goodwill to the respective CGUs and the key assumptions used in estimation of the recoverable amount | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Goodwill per CGU |  | RoW |  | RoW |  | RoW |  | United |
in €‘000 | ​ | Betting | ​ | Betting AV | ​ | Other | ​ | States |
Goodwill as of January 1, 2022 |  | 29,452 |  | 106,296 |  | 17,504 |  | 94,900 | ​
Acquisition |  | 46,237 |  | — |  | 3,079 |  | — | ​
Foreign currency translation effect |  | (1,793) |  | 3,875 |  | (56) |  | 4,495 | ​
Goodwill as of December 31, 2022 |  | 73,896 |  | 110,171 |  | 20,527 |  | 99,395 | ​
Acquisition |  | 4,236 |  | — |  | — |  | — | ​
Impairment | ​ | — | ​ | — | ​ | (6,493) | ​ | — | ​
Foreign currency translation effect |  | 424 |  | (2,463) |  | (140) |  | (3,152) | ​
Goodwill as of December 31, 2023 |  | 78,556 |  | 107,708 |  | 13,894 |  | 96,243 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Key assumptions used |  |  |  |  |  |  |  |  | ​
For 2022: |  |  |  |  |  |  |  |  | ​
Terminal value growth rate |  | 2.0 | % | 2.0 | % | 2.0 | % | 2.0 | %
Budgeted EBITDA margin 1 |  | 38.5 | % | 14.6 | % | 22.7 | % | 26.7 | %
Discount rate —WACC (before taxes) |  | 12.2 | % | 12.1 | % | 13.7 | % | 15.1 | %
For 2023: |  |  |  |  |  |  |  |  | ​
Terminal value growth rate |  | 2.0 | % | 2.0 | % | 2.0 | % | 2.0 | %
Budgeted EBITDA margin 1 |  | 33.6 | % | 13.1 | % | 12.5 | % | 25.0 | %
Discount rate —WACC (before taxes) |  | 13.2 | % | 13.2 | % | 15.7 | % | 15.7 | %
1 | The budgeted EBITDA margin for the RoW Betting CGUs represents an average margin, whereas the budgeted EBITDA margin for the RoW Other and United States CGUs represents the assumption for the last year of the budget period.
Schedule of Impairment assessment changes to discount rate and sustainable EBITDA | ​
​ | ​ | ​
​ | ​ | Further
in €‘000 |  | impairment
Decrease terminal value growth rate to 0% | ​ | (4,511)
Decrease sustainable EBITDA margin by 2% | ​ | (14,041)
Increase discount rate by 1% | ​ | (5,147)
Decrease discount rate by 1% and decrease sustainable EBITDA margin by 2% | ​ | (9,765)

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