mybet feels positive for 2015 as operator undergoes 2014 turnaround

The governance of European sports betting operator mybet Holdings has stated that it will continue to focus on repositioning its company within the European sports betting and igaming markets.

Reporting on its full year 2014 performance, governance maintained mybet Holdings had performed a ‘turnaround’ in 2014 with corporate revenues up 8% to €70.4 million (FY 2013: €65 million ).

Having recorded EBIT losses of €11 million in 2013, the operator’s governance was pleased to announce that 2014 had recorded a full year EBIT of €600,000

After a difficult and declining 2013, mybet governance had outlined that a strategic review of all of mybet operations was needed in order to turn around corporate performance. CEO Sven Ivo Brinck who had been appointed in December 2013, was charged with leading the business review and further implementing  a new streamlined strategy for mybet operations.

During his first year tenure as CEO Ivo Brinck mybet has refocused its digital operations on core European markets and undertook several cost saving initiatives. Furthermore the operator would its Spanish and Italian business units to DigDis (Spain) and Mr Green & Co (Italy)

Commenting on 2014 performance Ivo Brinck said

“mybet focused on improving our cost base. The performance in 2014 shows that we are on the right track but challenges are still ahead of us. We introduced many new products and features, such as our customer card, betting terminals and new, improved, mobile applications.”

mybet Holdings did not provide a breakdown of channel performance for 2014, the operator only provided top line metric performance figures for 2014. The operators management stated that company would supply further details regarding digital and retail performance in April, and that it had failed to supply further details due to ‘unforeseen operational restraints’.

The operator’s governance stated that at a basic scenario it expected corporate revenues to be between the range of €70-€75 million in 2015. Additionally the operator would also look to extend its sports betting product offering in 2015, as mybet looks to improve CRM and player activity capabilities