Player activity decline sees Mybet post €8 million losses for 2015

Frankfurt Xetra listed bookmaker mybet Holdings SE ends a difficult 2015 posting full-year EBIT losses of – €8.8 million (FY 2014: €500,000).

Throughout 2015, the German focused bookmaker had been impacted by a downturn in player activity, with its online sports betting division witnessing a wagering decline from €100 million (2014) to €95 million (2015).

Presenting 2015 results, mybet would report a 1.5% dip in its group net revenues to €69.2 million (2014: €70.4 million).

In Q3 2015, mybet governance had issued a ‘profit warning’ to investors declaring that the company would likely record + € million losses for its full year corporate performance.

Responding to declines, mybet governance stated that 2015 had been a period of key operational change for bookmaker, noting that the company had moved to implement its “product and customer first strategy” which had seen the company integrate its new IT platform.

The operator will now move to re-develop its online casino and sports betting verticals, focusing on reactivating its customer base.

Aided by its new ‘cost-saving’ platform and strategy, mybet governance issued a year guidance targeting revenue growth at 8-12%, with the company posting positive EBIT for 2016.

Zeno Osskó, mybet SE CEO commented on 2015 performance

“mybet was confronted with an array of challenges in the past financial year,”

“With the help of the new, higher-performance IT platform, the aim is now to market [sports betting and casino] more efficiently and thus to secure further rises in the betting stakes placed by both existing and new customers in the future,”

“Satisfied customers are our top priority, and in conjunction with a high-performance IT platform are the basis for sustained growth in revenue and profit over the coming years,”

“We now enable our customers to use all mybet sales channels using one central betting account. For a further boost to customer loyalty, we have also specifically transferred measures from the online sector to retail business.”