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.