mybet Holding SE
 | |
| ISIN | 🆔 |
|---|---|
| Industry | Gambling, Bookmaking |
| Fate | Dormant |
| Founded 📆 | 2003 |
| Founder 👔 | |
| Headquarters 🏙️ | Berlin, Cologne, Malta |
Area served 🗺️ | |
Key people | Markus Peuler, CEO |
| Members | |
Number of employees | 135 |
| 🌐 Website | www.mybet.com |
| 📇 Address | |
| 📞 telephone | |
mybet is a German gambling brand that offered online sports betting and casino products via mybet.com. The company also offered online and retail betting services in several countries via business-to-business (B2B) partnerships with local operators.
On September 4, 2018, mybet shut down its online gambling operations after its parent company filed for insolvency.[1] On February 4, 2019, mybet’s brand and other assets were acquired by Rhinoceros Operations Ltd, which plans to relaunch mybet’s online sportsbook in the first half of 2019.[2]
History[edit]
The mybet brand launched in 2003 under the control of Malta-based Personal Exchange International (PEI) Ltd[3] and operated under a license issued by Malta’s Lotteries and Gaming Authority (now the Malta Gaming Authority).[4]
PEI was acquired in 2006 by JAXX SE, a Kiel-based online lottery and gambling operator. In 2012, JAXX renamed itself mybet Holding SE. The company’s shares were listed on the Frankfurt Stock Exchange.[5]
Licenses[edit]
In addition to its Malta license, mybet was issued a Belgian gambling license in 2011.[6] In 2012, mybet was issued online sports betting and casino licenses in its German home state of Schleswig-Holstein.[7] In 2014, mybet was among the 20 intended recipients of German federal online betting licenses[8] but these licenses were never issued following court challenges by non-recipients.[9]
Legal issues[edit]
In April 2014, mybet Holding won an antitrust case against German state lottery operator Westdeutsche Lotterie (WestLotto) and was awarded damages of €11.5 million plus interest.[10] WestLotto appealed the ruling, and the two parties reached a settlement in May 2017 under which mybet received an €11.8m payment.[11]
Financial struggles[edit]
In 2016, mybet began reporting falling revenue as a result of delays in launching a new online gambling platform and regulatory restrictions in some of its key markets, including Greece.[12] In July 2018, the company announced plans to sell its customer-facing gambling operations in order to focus on its B2B business.[13]
On August 17, 2018, Mybet Holding SE announced that it had filed for insolvency proceedings after the failure of negotiations with a potential strategic investor. The company said it faced “imminent illiquidity” after the Frankfurt Tax Office rejected an application to suspend enforcement of an outstanding €4 million tax bill.[14] On September 4, 2018, mybet.com “paused” its online sportsbook and casino “to protect the interest of customers and creditors.”[15]
In February 2019, sports betting technology supplier Kambi Group announced that it had reached a deal with mybet’s new ownership to relaunch mybet’s online sportsbook in the first half of 2019.[16] Rhinoceros Operations Ltd, which runs the Malta-licensed Wunderino online casino, acquired mybet’s “brand and additional assets.”[17]
References[edit]
- ↑ "Mybet Holding SE". Mybet Holding SE (in Deutsch). Retrieved 9 February 2019.
- ↑ Massey, Luke (5 February 2019). "Kambi to power German market revival for mybet". SBC News. Retrieved 9 February 2019.
- ↑ "Company Overview of Personal Exchange International Ltd". www.bloomberg.com. Retrieved 9 February 2019.
- ↑ "GENERAL TERMS AND CONDITIONS OF BUSINESS OF PERSONAL EXCHANGE INTERNATIONAL LTD" (PDF). Mybet.com. Retrieved 9 February 2019.
- ↑ Roocroft, Andy. "Jaxx to change name to mybet". EGR Intel. Retrieved 9 February 2019.
- ↑ "myBet.com awarded sports betting licence in Belgium - Gaming Intelligence". www.gamingintelligence.com. Retrieved 9 February 2019.
- ↑ "Interview: Head of the Schleswig-Holstein Gaming Board - Gaming Intelligence". www.gamingintelligence.com. Retrieved 9 February 2019.
- ↑ "German body awards sports betting licences". iGaming Business. 3 September 2014. Retrieved 9 February 2019.
- ↑ Hofmann, Joerg. "Gaming in Germany: overview". Thomsonreuters.com. Retrieved 9 February 2019.
- ↑ Altanier, David. "Westlotto Ordered To Pay Mybet In German Antitrust Lottery Case | GamblingCompliance". gamblingcompliance.com. Retrieved 9 February 2019.
- ↑ "mybet Holding SE: Westlotto settlement improves financing situation. Annual General Meeting on 31 August 2017". uk.finance.yahoo.com. Retrieved 9 February 2019.
- ↑ "Half-year report: 2016" (PDF). Mybet.com. Retrieved 9 February 2019.
- ↑ GmbH, Webguidez Entertainment. "Mybet Holding SE". Mybet-se.com (in Deutsch). Retrieved 9 February 2019.
- ↑ Allen, Brad. "Mybet to file for insolvency". EGR Intel. Retrieved 9 February 2019.
- ↑ Macedo, Nicole. "Mybet faces uncertain future as site shuts down". EGR Intel. Retrieved 9 February 2019.
- ↑ "Kambi Group plc signs deal to relaunch mybet sportsbook in Germany | Kambi". www.kambi.com. Retrieved 9 February 2019.
- ↑ "Kambi to power relaunch of mybet sportsbook in Germany - Gaming Intelligence". www.gamingintelligence.com. Retrieved 9 February 2019.
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