Spanish Sale For Mybet

Restructuring results in sell-off of Spanish lottery shareholding

German online betting group Mybet's restructuring has resulted in a sell-off of the company's shareholdings in two Spanish lottery firms in order to "ensure greater stability within the group".

Spanish companies Digital Distribution Management (DDM) and Digital Distribution Management Iberica (DDMI) are the firms affected by the sell-off.

Sven Ivo Brinck, the sole member of the firm's management board, announced earlier this year that Mybet would have to be restructured (see previous InfoPowa reports), and this week he explained that the decision to sell was based on pragmatic reasons that took into account the likely lack of future profitability of the two Spanish companies.

Brinck said that the sell-off not only freed Mybet of uncertainties surrounding legal and economic issues, but also provided resources that could be deployed to advantage in other parts of the Mybet group.

The sell-off of Mybet shares in the two companies delivered a total of Euro 275,000 for use elsewhere in the group, Brinck revealed.

Online Casino News Courtesy of Infopowa

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Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.

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