Mybet Profits for 2013 Turned out “Deeply Unsatisfactory”

Mybet Holding officials claim to be disappointed in last year’s financial results.

The online and mobile sports betting mobile sports betting operator missed a number of its business targets and company representatives said the financial results for 2013 were “deeply unsatisfactory”. Last year’s revenue has dropped 2.5% compared to the previous year, from EUR 68.8 million to EUR 67 million.

The company’s lottery branch has suffered the most, posting a 49% fall in revenue, to EUR 3.2 million. Luckily, mybet’s online and mobile casino games did a lot better and compensated for the company’s losses. Casino and poker operations saw an 8.1% growth on a year-to-year basis, reaching EUR 23.4 million in revenue.

Fresh forces on the management team

The only other productive division was the sports betting branch. The increase was barely discernible though, with revenues going up just 0.1%, to EUR 33.3 million. Betting on horse races was less popular among mybet users, as revenue fell 1.1% to EUR 5.6 million.

The company recently announced changes to its management board and the move was meant to boost this year’s financial results. Officials are now expecting a revenue growth between EUR 70-75 million.

“After a deeply unsatisfactory 2013 financial year, the mybet Group will now concentrate on the tasks required to set its house in order once again, and also on its operational core skills in the sports betting and casino areas,” a company statement said.