Online Operator Mybet Still Struggling (update)

Management issues warning that FY revenues will be weaker

German online gambling operator Mybet has issued a warning to investors that it will have to reduce its forecast revenues for FY 2016 to Euro 43 – Euro 46 million (down from Euro 59 to Euro 62 million predicted earlier), indicating that the Frankfurt-listed company continues to struggle.
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
InfoPowa readers will recall that the company's H1-2016 revenue numbers declined 16 percent to Euro 24 million over the half-year due to a slump in active player numbers across both online sports betting and casino verticals.
The company reported delays in the integration of a new software platform, long mooted as the answer to Mybet's operational problems.
Earlier thjis year Mybet CEO Zeno Ossko stepped down, leaving CFO Markus Peuler in charge until a replacement can be hired.

Online Casino News Courtesy of Infopowa

About the Author... Total Posts Written: 9,449
Casinomeister

Casinomeister

The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
bryan@casinomeister.com

See More Posts