Mybet Showcase Sports Betting Growth in Q3 2013 Report

mybetGerman igaming operator Mybet Holdings has announced its fianacial performance reports for the the period of Q3 2013. The gaming provider has cited success in its online gaming operations in sports betting as the growth and value drivers for impressive figures during the period.

Mybet published full results, which stated revenue for the third quarter stood at €15.6 million ($21.1 million), the company has therefore seen a year on year increase of 4.3 with 2012 figures (2012 figures report a revenue of €15 million)

Mybet top management report that growth was driven primarily by its sports betting operations, which rose by €8 million during the 3rd quarter period of 2013. This figure was an improvement of 30.5% on 2012 figures, which had been posted as €6.1 million.

Mybets published downturn on the third quarter report, this was reported on their lottery based products, which witnessed a revenue drop of 16.7% – representing a figure of €845,000 in revenue downturn. Their online casino and poker divisions also witnessed a drop in revenues by 7.7% a revenue figure of €1.4 million. As a result earnings before interest, tax, depreciation and amortisation suffered a heavy blow in the quarter, dropping 366% from €-300,000 in Q3 of 2012 to €-1.4 million in the latest quarter.

Mybet are still on course to hit year end 2013 targets, The published  figures  by the company place mybet’s revenue for the first nine months of 2013 at €50.9 million, a 3.3% rise on the €49.3 million posted at the same point last year.

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