Seven-figure sum mooted for mybet.com sale

Seven-figure sum mooted for mybet.com sale

Monday, July 16, 2018 Posted by Luke Massey
No alternative text provided
The operator has a deal in place with an undisclosed investor

Frankfurt Xetra-listed mybet Holding SE has secured a business understanding to sell its entire B2C mybet.com division to a strategic investor.

Issuing a market update, mybet confirms that its business arrangement with the undisclosed investor has been approved by the firm’s supervisory board.

The European online betting group will target a ‘high single € digit million sale’ for its mybet.com property and related digital assets. Furthermore, the investor will gain the exclusive rights to operate the mybet brand for all future initiatives.

Should the B2C sale be completed, mybet Holding will maintain the operations of its current B2B services and European retail betting shop arm across Germany, Austria and Belgium.

Last March, mybet detailed to investors that it was reviewing all ‘strategic options’ with regards to the firm’s future enterprise, having entered negotiations with a Malta-based strategic partner.

In this update, mybet indicated the potential launch of a new ‘European betting joint-venture’ in which the company would maintain a majority 51% equity.

At present, mybet has chosen not to disclose any information related to the strategic investor, or the future plans/initiatives attached to mybet.com digital enterprise.

Totally Gaming says: The planned digital sale follows two years of corporate restructuring of mybet operations, in which the company has moved to redevelop and relaunch its digital operating platforms, seeking to overturn declining player activity and sports market wagers.

Latest
Finance

JPJ Group sees Jackpotjoy decline offset by Vera&John growth in Q3

Money

Stride Gaming subsidiary hit with £7.1m UKGC penalty

France

Stellar showing from sports betting drives French market growth

Casino

Swiss Casinos selects Playtech for online launch

Gaming Products & Services Directory

The essential directory for the gaming industry