September 29, 2014

Mybet continues restructuring with Italian sale

Online gaming and betting provider mybet Holding has taken another step in its restructuring process after completing the sale of its mybet Italia business.

Mybet sold its interest in the operation by way of a management buyout to the company’s managing director Gianluca Torricelli.

The sale comes after mybet last month offloaded its stakes in Spanish companies Digital Distribution Management (DDM) and Digital Distribution Management Iberica (DDMI).

Sven Ivo Brinck, who was appointed as the sole member of the firm’s management board in late 2013, announced earlier this year that mybet would be realigned.

In a statement about the Italian sale, mybet said: “The move is in line with mybet's current goal of increasing profitability by focusing clearly on core markets.

“By successfully continuing with the restructuring measures, the management Board presses ahead with the systematic repositioning of the mybet Group as previously announced.

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