SBC News Voice of the Sports Betting Industry
mybet Holdings, holding company of mybet.com have completed a further round of corporate restructuring with the announcement of the operators exit from the UK betting market and the sale of its Italian business division.
This week, the German operator issued a statement to players and media partners that it would no longer be accepting UK wagers on its products. mybet Holdings, stated that it wished to comply with upcoming changes in UK igaming regulation and legislation by withdrawing its betting services from the UK.
Customers were issued an email regarding the operators withdrawal from the UK, and given thirty days in which to close their accounts.
Further restructuring has seen the operator sell its Italian business division, by way of a management buyout undertaken by Italian Managing Director, Gianluca Torricelli.
The sale of its Italian business division, follows last months sale of its Spanish igaming and sports betting assets.
At the start of 2014 mybet CEO Sven Ivo Brinck, outlined the company’s intention to refocus on core market. Ivo Brinck has stated that the operator would undergo a streamlining in order to accelerate its progress and stop the decline in revenues it had witnessed in 2012 and 2013.
A corporate statement commented on the sale of mybet Italy “By successfully continuing with the restructuring measures, the management Board presses ahead with the systematic repositioning of the mybet Group as previously announced.
