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.

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.

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.