Weak First Quarter From Mybet

Sports betting eases the pain as online poker and casino action declines

Online gambling operator MyBet Holdings has posted a set of weak Q1-2014 results with revenues 8 percent down on the same period last year.

However, a 1.2 percent increase in sports betting to Euro 10.7 million helped to reduce the impact of poor online casino and poker results, where revenues dived 16.5 percent to Euro 5.5 million.

Horse racing operations provided further relief, with revenues up 35.8 percent to Euro 1.4 million.

Overall revenues retreated 8 percent to Euro 17.9 million in the quarter; in Q1-2013 the company reported revenues of Euro 19.5 million.

EBITDA grew 9.9 percent to Euro 885,000, but management warned that the coming second quarter is traditionally quiet and results may again be subdued, although it is likely that annual targets will be met.

Online Casino News Courtesy of Infopowa

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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.
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