An EBIT loss of 8.8 million euros was experienced by the end of 2015 by the bookmarker mybet Holdings SE; this was according to Frankfurt Xetra. This came shortly after a full year loss of 500, 000 euros in 2014. A tremendous decline in player involvement in the German bookmarker had been witnessed throughout the financial year of 2015. The online sports betting club also witnesses a downfall in the gambling activities which totaled from 100 million euros in 2014 to 95 million euros in 2015. A depression of 1.5% in net revenues totaling to 69.2 million in 2015 from 70.4 million was witnessed.
A profit warning was issued to investors in 2015, where they were warned of the possibility of over a million euros loss by mybet holdings, in its entire business year. The owners of mybet holdings responded to the losses by saying that the previous year (2015) had seen vital changes in the bookmarker, since it was busy applying the product and company strategy, where a new IT platform was assimilated in the holding. To resuscitate its customer reputation the operator is in the process of reforming its online casino and its sports betting strategy.
The owners of the holding promised to oversee an 8- 12% revenue increase in 2016, where EBIT increase will also be witnessed. This will be possible through the recent established cost- saving platform and approach. Zeno Ossko, who is the CEO of mybet platform, stated that the 2015 financial year had a lot of challenges, but promised that the challenges were being handled by the new IT platform, and that future profit gains would be witnessed in the coming years by the customers. He also said that the platform aims at providing the best customer services throughout. Players were also encouraged to make use of mybet sales channel, through the use of one major gambling account; the company has overseen the transfer from online sector to retail business, to help in re- gaining customer confidence.
He is positive that the 2016 financial year will be much better.
This article is published in: Betting Operators Finances
Tags: mybet
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