German gaming company mybet Holding SE announced its financial results for the third quarter as well as the first nine months of the year. Revenue dropped 6.7% in the three months ended September 30 to €16.7 million. However, revenue for the first nine months of the year increased 1.3% to reach €53 million.
The company noted that the measures it had taken for improving its catalog of product offering and optimizing CRM activities have already influenced its performance in a positive manner. During the first nine months of the year, betting stakes in mybet’s sports betting division, known to be the operator’s core business, increased 3.2% despite last year’s positive effect of the FIFA World Cup.
Betting stakes in retail increased 7.3% year-on-year. The company’s German betting shops posted a 20% growth in betting stakes. Mobile operations also reported a considerable increase compared to the figures reported for the first nine months of 2014.
Quarterly revenue from sports betting operations amounted to €9.6 million, down 6.4% as compared to the €10.3 million posted for the same period a year ago. mybet’s sports betting business also generated turnover of €29.5 million during the first nine months, down 2.2% year-on-year. The gambling operator pointed out that Greek capital controls had a negative impact on both its sports betting and casino and poker segments during the reported periods of 2015.
Casino and poker generated quarterly revenue of €4.2 million, down 22% year-on-year. In addition, the segment posted revenue of €16 million for the nine months ended September 30, down 2.6% as compared to the €16.4 million reported for the same period a year ago.
Turnover from horse betting increased 41% in the third quarter to reach €2.7 million. Horse betting revenue for the nine months ended September 30 amounted to €7 million, up 40.4% from the €5 million posted for the same period a year ago.
Other related services generated €166,000 in the third quarter, down 39.4% year-on-year. Revenue from those same services amounted to €509,000 during the first nine months of the year, down 33.8%.
Quarterly EBITDA totaled €45,000. EBITDA for the nine-month period ended September 30 amounted to €517,000, down 70.7% as compared to the €1.8 million reported for the first nine months of 2014.
Commenting on the posted financial results, mybet CEO Zeno Ossko said that the positive trend in their core markets is indicative of the success of their strategy to pay more special attention to their operating business and improve “customer lifecycle management.”
