Betting companies

Amaya acquires Victiv as their subsidiary to the fantasy market

Amaya acquires Victiv as their subsidiary to the fantasy market

Amaya has been on the brink of maximising its profits since it was initiated way back. With this in mind, the provision of top class services to its clients has been the company’s first priority. This has resulted in the acquisition of more clients to their platform. The more the client, the more income the company earns.

Recently, Amaya has prompted to raid the US markets where there is high possibility of acquiring more customers. To achieve this, the company has decided to initiate the US daily fantasy sports market (DFS) through a confirmation announcement that the firm has to its possession the Victiv which is a real money operator that is based in the US. However, it was not clear the actual amount that Amaya cashed out to acquire Victiv. Before it is being officially launched in the US soil, Amaya confirmed that the new firm Victiv will change its name to StarsDraft.

This comes after Amaya proclaimed to the public last March that it was planning to get involved in the US DFS market as it eyed the kick off of the new 2015/2016 NFL season. The main reason as to why its governance came to this conclusion was due to the fact that it oversaw a greater relationship and potential between the ex US poker client and the DFS market.

The Toronto based operator has fully confirmed the purchase of Victiv together with its services and operations. The firm claimed through a statement that it has no plans of expelling the acquired workers but would rather continue working for the firm in the new acquired operator.

The CEO of Amaya David Baazov claimed that the new dimension of his firm has a direction point of view of venturing in the daily fantasy sporting category and will be keen to pursue straight tracks which will be based on the development of the inside strategy and proper management.

He continued to say that he is focused on giving more information on the plan come the second half of 2015 that would see the company move from poker to daily fantasy sports.

The acquisition of the Austin, Texas based Victiv will be keyy6 in the acquisition of clients due to its easy web access and comes with attractive products and adverts which would suit clients’ pocket

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Mybet performance in the first quarter of 2015 was hindered due to the decreased player activity & margin impacts

Mybet performance in the first quarter of 2015 was hindered due to the decreased player activity & margin impacts

It has been reported that Germany sports betting operator mybet has been faced by a gradual decrease in its SE H1 2015. This has been subject to the decrease by the number of players involved in the curriculum. Though there was an increase in group revenue which went up by 5.5%, the resultant had no any impact on the earnings and profits which oversaw a loss of €238,000 which prompted the firm to incorporate changes over the period.

The several changes that were incorporated were meant to be crucial in the transition of the company in a nearby future in terms of its growth. This would be achieved by the means of putting in place channels that are cost-intensive as well as insertion of good life time revenue for players.

In addition mybet was also hit by a drastic decline in the digital operating margins which fell down by 2.3%. It was noted also that company had overseen the fall of its active clients which fell by a whopping 10%. The number fell from 127,000 in the H1 2014 to current 114,500. This was shocking as the firm had an average active player of 21,000 every month.

However, despite all these downfalls, the company claimed to have recorded little increase in various sectors. It was said that the mybet had a drastic increase in the mobile operation activities which went up by 387% in revenue during the Q2. This has been seen as the key factor to the development of mybet.

The new mybet CEO Zeno Ossko who took charge in July from Sven Ivo Brink claimed that there has been a higher rate in which people win and has resulted to a higher payout to the winnings. This was followed by a downfall in the lower hold margin to 18.9% from the previous 19.9%. The two aspects led to the bad development in betting stakes that had negative impacts on the earnings as well as revenues. Profitability expressed as earnings before interest and taxes (EBIT) was hit by pressure from these two factors.

He concluded that this year the company will be focused mainly on the issues pertaining both the customers’ service delivery and their perfect products rendering.

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Jim Mullen says that Ladbrokes and Coral are still great competitors

Jim Mullen says that Ladbrokes and Coral are still great competitors

For the first time in many years, Ladbrokes Plc has posted a serious loss. Analysts from the city have announced that the £41 million loss by the company is one of the greatest losses ever since the company was initiated. This comes as a big blow for its CEO Jim Mullen who is shocked by the drastic downfall of his company.

Nonetheless, Mullen a Scottish national feels that his company just made a slight slip and sooner than later it will be back to its best. And to do this, he claimed he would call for a meeting for all stakeholders and would review the ins and outs of the H1 of 2015. This would be the key turning point for the operator for the sake of a better future.

Mullen came up with a special approach which would foresee the company reverts to its profit making ways. First he would summon all stakeholders and under his management, the fresh Executive team of workers would involve themselves in jotting down all retailed assets of the company. This as he claimed would be focused on attainment of the set £51 million in charges. After a strong consultation, Mullen has a positive believe about the idea and with no time, it is believe to be the transformative aspect for the Ladbroke.

Mullen claimed that for a brighter future of the firm, the aspect of upping their game in terms of proper coordination of all operations accordingly would call for. Ladbroke and another betting operator and a stiff rival in the market Gala Coral are on the brink of merging together in a deal worth £2.3 billion. However, this amalgamation will have to wait until the Competition and Markets Authority (CMA) approves the deal.

Mullen told the media that the company has a ready and up to task team that would initiate a framework of what is to be done. He continued to say that the deal between them and Gala Coral is on hold as they are waiting for the CMA’s endorsement.

However, it will be only after CMA approves the deal that Ladbroke would actually view Gala Coral as their rival competitor in the market and would be eager to knock Gal Coral down in the products they fight for.

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Convertible bonds accords mybet €5 million

Convertible bonds accords mybet €5 million

From time to time market updates are revealed to the public who seeks to know how their respective firms are performing. The current update brought about by frank Xetra claimed that bookmaker Mybet Holdings SE has made a substantial step in making a full completion of the funding which is believed to be worth €5 million (£3.5 million). Frankfurt Xetra claimed that the bookmaker was able to make a full detailed completion with the help of its convertible bond loan placement which attributed greatly.

At the same time, the respective heads at Mybet Holdings SE claimed that they were to make things more understandable to the public and continued to specify on the fundraising round by saying that their main operator would take up the initiative of paying 6.25% interest which will be added on top of the €5 million (£3.5 million) that was collected.

The Germany based bookmaker further added that all the funds raised during the event was subject to the oversubscription. The firm claimed that their outstanding debt would be cleared soon where a total of 50,000 debt owners will be accorded with a standard value of € 100.

The process of the initiation of the fundraising was earlier revealed in November the heads of Mybet. They claimed that the main purpose of the fundraising would be coming up with the required cash to clear its debts. This comes in moments where the firm had been faced by serious catastrophe of losses which amounted to -€ 4.4 million. The firm had earlier stated that the main reason for the losses would be attributed to the server downturn that had resulted from the poor performance in the number of clients being involved at the bookmaker.

Despite clearing the outstanding debts, the mybet governance claimed that the remaining amount will be used to improve the firm especially in various operators’ infrastructure platform. This would be crucial in the aspect of broadening its product horizons.

CEO of Mybet Holdings Zeno Ossko claimed that their main investors have shown an optimistic feedback on the issue of their campaign and strategies. This has resulted to the long time as well as new investors incorporating the convertible bond which was the key aspect in formulating different ways to curb their loss problem. He concluded by saying that he was pleased to oversee new investors in the firm and this clearly showed that his company was on the right track in the maximization of profits.

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