Mybet Continues To Struggle In H1-2016

Online losses deepen

Mybet Holdings has posted its H1-2016 results, reporting:
* Online revenues in decline, with online casino down 25 percent year-on-year to Euro 8.3 million, and online sports betting revenue down 35 percent at Euro 4.4 million;
* Group revenue down 16 percent at Euro 24 million;
* EBITDA a loss of Euro 1.3 million (H1-2015: loss of Euro 816,000;
* Sale of German horse racing subsidiary for Euro 9.9 million, which enabled the company to post a profit of Euro 4.2 million and will be deployed in the integration of a new digital operating platform.
InfoPowa readers will recall that earlier this month Mybet CEO Zeno Ossko left the company to take up a new post as m.d. of BetStars in the Amaya Group. He was replaced by chief financial officer Markus Peuler.

Online Casino News Courtesy of Infopowa

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