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Mybet Revenues down 11 percent in first quarter
Thursday May 12,2016 : MYBET LOSSES CONTINUE
Revenues down 11 percent in first quarter.
MyBet Holdings, a Frankfurt-listed online and retail gambling firm, has reported continuing losses in its Q1-2016 numbers released Thursday.
The company reported overall revenues down 11 percent at Euro 14.9 million, with group sports betting revenues down 10 percent to Euro 8.2 million, but a bigger decline than that in online sports betting (down 38.7 percent at Euro 2.2 million).
The casino-poker vertical was down 20.9 percent at Euro 4.34 million (Q1-2015: Euro 5.49 million).
The Retail division fared somewhat better, with revenue up 13.6 percent at Euro 5.15 million, thanks in part to a 15.4 percent increase in horse race betting.
The operator reported a slightly lower overall loss of Euro 802,000 (Q1-2015: loss of Euro 878,000) with a group EBITDA loss of Euro 140,000.
Management acknowledged that the quarter was not satisfactory from either a performance or financial perspective, but pointed out that the group is still in transition due to major operational changes the previous year. As a consequence MyBet has postponed the launch of its new technology platform until the Euro 2016 football championships have concluded.
Gambling News :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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