Kambi signs deal to relaunch Mybet sportsbook in Germany Kambi has today signed a deal to power the relaunch of Mybet, one of Germany’s most recognisable sports betting brands now under new ownership.
Due to the recent insolvency of its previous owner, MyBet Holding SE, Mybet was withdrawn from the market in the fall of 2018 following 15 years of operation, however, the mybet brand and digital assets have since been purchased by a new investment group.
Under the terms of today’s multi-year agreement, Kambi will provide Rhinoceros Operations Ltd, the new operator of mybet, with its complete Sportsbook and full range of managed services, enabling the company to relaunch the brand into the growing German online market.
The Mybet relaunch is scheduled to take place during H1 2019, while the contract also provides a provision for Rhinoceros Operations to launch a Kambi Sportsbook with other brands under its ownership.
Kristian Nylén, Kambi Chief Executive Officer, said: “The story of Mybet illustrates why operators cannot afford to rely purely on the strength of their brand and history in a market. Online sports bettors are increasingly promiscuous so operators must ensure they have sufficient scale in their product investments to provide exciting sports betting experiences at all times to remain competitive. Partnering with a high-quality supplier such as Kambi solves that challenge.
“We are excited by the potential of Mybet. The brand remains strong and, with the quality the Kambi Sportsbook offers, we believe Mybet can once again become a leading player in the German market and elsewhere.”
Tobias Carlsson, CEO of the Rhinoceros Group, said: “Our agreement with Kambi is one of the cornerstones on which we will build the future of a great brand. Mybet was one of the pioneers in the German sports betting field, and together with Kambi and our other partners we will do everything in our power to revive that legacy and bring players the experience they desire and deserve.”
Showing posts with label Mybet. Show all posts
Showing posts with label Mybet. Show all posts
February 05, 2019
November 19, 2015
mybet to raise €5m to fund sports betting expansion plans
German gaming operator mybet Holding intends to raise €5m through the issue of a new convertible bond, with proceeds to be used for the expansion of the company’s marketing and technology platform.
mybet will issue a bond with conversion right in the maximum total nominal value of up to €5m. The measure is still subject to a final management board resolution, which will also specify the details of the issuance and the terms of the bond.
It will also need the consent of the company’s supervisory board later this month.
The operator said that it will use the proceeds for the expansion of its marketing and technology platform, including expanding the betting range, acquiring new customers through increased marketing activities, and for advertising of games in the wider context of the UEFA European Championship in 2016.
The convertible bond is expected to be issued in December and have a term of five years.
During the term the bondholders have the irrevocable right, within certain conversion periods, to convert debentures into no par value shares of mybet, each representing a notional share of the capital stock of €1.00. The convertible bond is to attract interest at a rate of 6.25 per cent per annum on its nominal value.
The issue amount, taking into account the present share price, will represent 100 per cent of the nominal amount and will be €100.00 per debenture. The convertible bond is to be collateralised by the pledging of shares of pferdewetten.de, which is owned by mybet.
mybet will issue a bond with conversion right in the maximum total nominal value of up to €5m. The measure is still subject to a final management board resolution, which will also specify the details of the issuance and the terms of the bond.
It will also need the consent of the company’s supervisory board later this month.
The operator said that it will use the proceeds for the expansion of its marketing and technology platform, including expanding the betting range, acquiring new customers through increased marketing activities, and for advertising of games in the wider context of the UEFA European Championship in 2016.
The convertible bond is expected to be issued in December and have a term of five years.
During the term the bondholders have the irrevocable right, within certain conversion periods, to convert debentures into no par value shares of mybet, each representing a notional share of the capital stock of €1.00. The convertible bond is to attract interest at a rate of 6.25 per cent per annum on its nominal value.
The issue amount, taking into account the present share price, will represent 100 per cent of the nominal amount and will be €100.00 per debenture. The convertible bond is to be collateralised by the pledging of shares of pferdewetten.de, which is owned by mybet.
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.
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.
November 11, 2013
Two online gambling bosses leave
Two major departures have happened recently with Paul Leggett Vice President of online gaming at Amaya leaving after an internal email was leaked to the media.
David Baazov, CEO of Amaya sent an internal email confirming Leggett’s departure by saying. “Paul is a consummate professional and has done an incredible job at Amaya,” he said. “He has led the integration of the online businesses, developed our strategies for technology and product, signed key deals and has put our online business on the path forward to greater things. He will be sorely missed.”
It is understood the departure is voluntary and could be connected to Leggetts previous work within online gambling post the UIGEA, however this is not confirmed, but as this was announced Amaya were granted a license to supply online gambling in New Jersey.
Another departure in the online gambling world is that of Mathias Dahms the CEO of Mybet, Dahms will step down from his role at the end of the year. He has been with the company for 15 years and was a co-founder of Mybet and has held the role of CEO since 2010. No reason for the departure has been made except that Mr Dahms will be seeking new challenges.
David Baazov, CEO of Amaya sent an internal email confirming Leggett’s departure by saying. “Paul is a consummate professional and has done an incredible job at Amaya,” he said. “He has led the integration of the online businesses, developed our strategies for technology and product, signed key deals and has put our online business on the path forward to greater things. He will be sorely missed.”
It is understood the departure is voluntary and could be connected to Leggetts previous work within online gambling post the UIGEA, however this is not confirmed, but as this was announced Amaya were granted a license to supply online gambling in New Jersey.
Another departure in the online gambling world is that of Mathias Dahms the CEO of Mybet, Dahms will step down from his role at the end of the year. He has been with the company for 15 years and was a co-founder of Mybet and has held the role of CEO since 2010. No reason for the departure has been made except that Mr Dahms will be seeking new challenges.
December 11, 2012
Bayern Munich have been declared Bundesliga champions by one betting company
Bayern Munich have been declared Bundesliga champions by one betting company before the halfway stage of the season.
Bayern take an 11-point advantage into the last round of matches in 2012 and anybody who had placed a bet on them winning the league with myBet can enjoy an early Christmas present as the company is already paying out.
"Bayern's dominance and the quality and strength in depth they have in their squad speaks for itself," said myBet's general manager Edward Mifsud on sport.de.
"No other Bundesliga club can compete with them this season."
Bayern are already 14 points clear of defending champions Borussia Dortmund - who managed to overturn an eight-point deficit on the Bavarians last season, but are looking unlikely to bridge an even greater gap this time around.
"It's not only the advantage on second place, but it is also their huge goal difference of plus 37 which earns them an extra point," added Mifsud.
Dortmund's 81-point Bundesliga record from last season is also under threat with Bayern, who have lost only once all season, already on 41 points with one game to go before the halfway stage of the season.
Bayern take an 11-point advantage into the last round of matches in 2012 and anybody who had placed a bet on them winning the league with myBet can enjoy an early Christmas present as the company is already paying out.
"Bayern's dominance and the quality and strength in depth they have in their squad speaks for itself," said myBet's general manager Edward Mifsud on sport.de.
"No other Bundesliga club can compete with them this season."
Bayern are already 14 points clear of defending champions Borussia Dortmund - who managed to overturn an eight-point deficit on the Bavarians last season, but are looking unlikely to bridge an even greater gap this time around.
"It's not only the advantage on second place, but it is also their huge goal difference of plus 37 which earns them an extra point," added Mifsud.
Dortmund's 81-point Bundesliga record from last season is also under threat with Bayern, who have lost only once all season, already on 41 points with one game to go before the halfway stage of the season.
May 08, 2012
Sports betting provider mybet heads into Bundesliga 1 with SpVgg Greuther Fürth
The sports betting provider mybet will be sponsoring the football team Greuther Fürth from the 2012/2013 season. Fürth had already sealed promotion to the top tier of the Bundesliga with four matches to go.
Mathias Dahms, Management Board spokesman of mybet parent JAXX SE, remarked: 'We congratulate Trainer Mike Büskens and his team on what must be the most notable achievement in the club's history. And we look forward to plenty of exciting top-flight matches next season for the team with the cloverleaf emblem.'
The sponsorship package for SpVgg includes TV-relevant advertising areas on the stadium's perimeter bands as well as extensive promotional opportunities. Mathias Dahms added: 'In mybet, we have an excellent brand that we aim to continue bolstering through a measured approach to sponsorship and well-paced branding measures. Our partnership with the cloverleaf gives us the opportunity of a presence in the Bundesliga through an especially likeable club. With its attractive football and a young, motivated group of players, the team is bound to make its mark on the first division, too.'
mybet has been involved in the sports betting market since 2003 and is today one of Europe's leading providers, with over half a million Internet customers and more than 500 betting shops. In the increasingly liberalised German market, which is now being opened up to private sports betting providers, mybet is aiming to be comprehensively involved in sport.
Alongside its new association with SpVgg Greuther Fürth, mybet is already premium partner of Fortuna Düsseldorf, sponsor of the Germany national handball team and supporter of 'Republik Fussball', an initiative of FC St Pauli for amateur and recreational players. Through its licensing in Germany, mybet will moreover be making a major contribution to mass sport through the tax revenues and licence fees it generates for the state.
Mathias Dahms, Management Board spokesman of mybet parent JAXX SE, remarked: 'We congratulate Trainer Mike Büskens and his team on what must be the most notable achievement in the club's history. And we look forward to plenty of exciting top-flight matches next season for the team with the cloverleaf emblem.'
The sponsorship package for SpVgg includes TV-relevant advertising areas on the stadium's perimeter bands as well as extensive promotional opportunities. Mathias Dahms added: 'In mybet, we have an excellent brand that we aim to continue bolstering through a measured approach to sponsorship and well-paced branding measures. Our partnership with the cloverleaf gives us the opportunity of a presence in the Bundesliga through an especially likeable club. With its attractive football and a young, motivated group of players, the team is bound to make its mark on the first division, too.'
mybet has been involved in the sports betting market since 2003 and is today one of Europe's leading providers, with over half a million Internet customers and more than 500 betting shops. In the increasingly liberalised German market, which is now being opened up to private sports betting providers, mybet is aiming to be comprehensively involved in sport.
Alongside its new association with SpVgg Greuther Fürth, mybet is already premium partner of Fortuna Düsseldorf, sponsor of the Germany national handball team and supporter of 'Republik Fussball', an initiative of FC St Pauli for amateur and recreational players. Through its licensing in Germany, mybet will moreover be making a major contribution to mass sport through the tax revenues and licence fees it generates for the state.
May 03, 2012
Schleswig-Holstein issues online sports betting licences
The German state of Schleswig-Holstein has issued its first three online sports betting licences to online betting exchange Betfair, JAXX subsidiary myBet, and state lottery operator NordwestLotto, with licences for casino and poker expected to be issued later this year in summer.
“Stringent requirements ensure that only serious and commercially viable enterprises are allowed in the market,” said Klaus Schlie, Schleswig-Holstein’s Interior Minister.
Schlie said that operators wishing for a licence will have to produce extensive documentation to prove economic efficiency and transparency, as well as procedures to secure payment processing, combat money laundering and prevent fraud.
The Minister added that a collaboration between gambling providers and sporting associations was “desirable”.
“The sports federations have to do everything in their power to ensure that sporting events take place without manipulation,” said Schlie.
He confirmed that there were 23 remaining licence applications from sports betting operators, as well as 14 applications for casino and poker licences. Further licences will be granted in the coming weeks, according to Schlie.
In a statement to the London Stock Exchange this morning, Betfair said that following the receipt of its licence to operate its betting exchange, the company intends to pay 20 per cent of gross gaming revenues derived from Germany to Schleswig Holstein.
Based on current revenue run-rates, Betfair envisages that this payment will reduce Core Betfair's gross margin by approximately one per cent.
“We are delighted to have been awarded one of the first three licences to operate in Schleswig Holstein,” said Betfair's chief legal and regulatory affairs officer, Martin Cruddace. “We look forward to making a significant and sustainable contribution to the newly formed market there, offering consumers innovative products in a safe and responsible betting environment.
“Schleswig Holstein's government should be applauded for its efforts to implement a regulatory regime that will provide security for consumers, transparency for regulators and the freedom to compete for EU operators."
The German state also issued a sports betting licence to PEI Ltd, which is part of the Schleswig Holstein-based JAXX SE Group. The licences will come into immediate effect and will expire on April 30th 2018.
In a statement released this morning, JAXX said that it will now be able to launch its myBet.de website, offering customers sports betting and live betting on sports such as football, tennis, handball among others.
“Bearing in mind that we are based in Schleswig-Holstein, we are of course proud to have been granted one of the first Schleswig-Holstein sports betting licences,” said Mathias Dahms, management board spokesman for JAXX. “The permit for myBet is a document of historic importance because it represents a trailblazing approach to the regulation of the gaming industry.
“The regulatory authorities in Kiel conducted an exhaustive and very demanding examination that in certain respects exceeded the standards applied in other European countries. But Schleswig-Holstein is the only German state to have understood how to go about drafting legislation that complies with both European and constitutional law and takes account of the interests of players, providers and the state in equal measure.
“The draft State Treaty of the other 15 federal states is clearly a shabby compromise that has lost its way in a bureaucratic jungle at federal level. The opposition in the Kiel state parliament, too, will now discover that having its own gaming law is good for the state, and good for its finances.”
JAXX confirmed that myBet had also applied for an online casino and poker licence, but because of the large number of applicants and the exhaustive examination process, Schleswig-Holstein’s Ministry of the Interior has indicated that these licences are likely be issued later this year in summer.
“Stringent requirements ensure that only serious and commercially viable enterprises are allowed in the market,” said Klaus Schlie, Schleswig-Holstein’s Interior Minister.
Schlie said that operators wishing for a licence will have to produce extensive documentation to prove economic efficiency and transparency, as well as procedures to secure payment processing, combat money laundering and prevent fraud.
The Minister added that a collaboration between gambling providers and sporting associations was “desirable”.
“The sports federations have to do everything in their power to ensure that sporting events take place without manipulation,” said Schlie.
He confirmed that there were 23 remaining licence applications from sports betting operators, as well as 14 applications for casino and poker licences. Further licences will be granted in the coming weeks, according to Schlie.
In a statement to the London Stock Exchange this morning, Betfair said that following the receipt of its licence to operate its betting exchange, the company intends to pay 20 per cent of gross gaming revenues derived from Germany to Schleswig Holstein.
Based on current revenue run-rates, Betfair envisages that this payment will reduce Core Betfair's gross margin by approximately one per cent.
“We are delighted to have been awarded one of the first three licences to operate in Schleswig Holstein,” said Betfair's chief legal and regulatory affairs officer, Martin Cruddace. “We look forward to making a significant and sustainable contribution to the newly formed market there, offering consumers innovative products in a safe and responsible betting environment.
“Schleswig Holstein's government should be applauded for its efforts to implement a regulatory regime that will provide security for consumers, transparency for regulators and the freedom to compete for EU operators."
The German state also issued a sports betting licence to PEI Ltd, which is part of the Schleswig Holstein-based JAXX SE Group. The licences will come into immediate effect and will expire on April 30th 2018.
In a statement released this morning, JAXX said that it will now be able to launch its myBet.de website, offering customers sports betting and live betting on sports such as football, tennis, handball among others.
“Bearing in mind that we are based in Schleswig-Holstein, we are of course proud to have been granted one of the first Schleswig-Holstein sports betting licences,” said Mathias Dahms, management board spokesman for JAXX. “The permit for myBet is a document of historic importance because it represents a trailblazing approach to the regulation of the gaming industry.
“The regulatory authorities in Kiel conducted an exhaustive and very demanding examination that in certain respects exceeded the standards applied in other European countries. But Schleswig-Holstein is the only German state to have understood how to go about drafting legislation that complies with both European and constitutional law and takes account of the interests of players, providers and the state in equal measure.
“The draft State Treaty of the other 15 federal states is clearly a shabby compromise that has lost its way in a bureaucratic jungle at federal level. The opposition in the Kiel state parliament, too, will now discover that having its own gaming law is good for the state, and good for its finances.”
JAXX confirmed that myBet had also applied for an online casino and poker licence, but because of the large number of applicants and the exhaustive examination process, Schleswig-Holstein’s Ministry of the Interior has indicated that these licences are likely be issued later this year in summer.
March 20, 2012
JAXX revenues rise as myBet prepares for Italy launch
Germany’s JAXX said Monday that it expects to report a 19 per cent increase in revenues to €60.7m for the 2011 year following strong growth during the fourth quarter from the company’s myBet subsidiary.
In its provisional unaudited figures for the year ended December 31st, JAXX said that it expects consolidated earnings before interest and taxes to amount to €1.6m during the period, following a 19 per cent rise in revenues to €60.7m.
No other financial data was revealed, with the company expecting to publish its 2011 Annual Report on March 30th.
The company stated however that the sale of its lottery operation had been delayed by several weeks, claiming that the task of demerging the companies and assets, as well as drawing up the agreements, was taking up more time than originally envisaged.
Based on its negotiations, JAXX expects the sale of the business to as yet unnamed investors to yield proceeds of €12.5m.
JAXX confirmed that the company and its myBet subsidiary submitted applications for sports betting and casino licences in the German state of Schleswig-Holstein before the deadline of March 1st.
“Although the authorities have not yet given a precise date for the awarding of the licence, JAXX expects it to be granted in the course of April, so that business operations can then start,” the company said in a statement yesterday.
myBet has already secured a licence from Italian regulator AAMS which will allow the company to launch online sports betting, casino and poker products via myBet.it in the next few weeks. The company is still awaiting official approval from Spanish regulators however, and does not expect to launch operations during the second quarter, as previously anticipated.
In its provisional unaudited figures for the year ended December 31st, JAXX said that it expects consolidated earnings before interest and taxes to amount to €1.6m during the period, following a 19 per cent rise in revenues to €60.7m.
No other financial data was revealed, with the company expecting to publish its 2011 Annual Report on March 30th.
The company stated however that the sale of its lottery operation had been delayed by several weeks, claiming that the task of demerging the companies and assets, as well as drawing up the agreements, was taking up more time than originally envisaged.
Based on its negotiations, JAXX expects the sale of the business to as yet unnamed investors to yield proceeds of €12.5m.
JAXX confirmed that the company and its myBet subsidiary submitted applications for sports betting and casino licences in the German state of Schleswig-Holstein before the deadline of March 1st.
“Although the authorities have not yet given a precise date for the awarding of the licence, JAXX expects it to be granted in the course of April, so that business operations can then start,” the company said in a statement yesterday.
myBet has already secured a licence from Italian regulator AAMS which will allow the company to launch online sports betting, casino and poker products via myBet.it in the next few weeks. The company is still awaiting official approval from Spanish regulators however, and does not expect to launch operations during the second quarter, as previously anticipated.
January 31, 2012
myBet.de partners Fortuna Düsseldorf
Online sports betting firm myBet.de has become a premium partner of 2.Bundesliga side Fortuna Düsseldorf.
The multi-year deal, brokered by sports marketing company Infront Sports & Media, begins with the resumption of second-tier German domestic soccer in early February after its winter break.
Under the terms of its second-tier sponsorship, myBet.de will receive advertising within the view of television cameras at Düsseldorf’s Esprit Arena, hospitality at home matches and other promotional opportunities.
While financial terms were not disclosed, the deal is likely to be worth around US$650,000 per year.
Mathias Dahms, spokesman of the board at JAXX SE, the parent company of myBet.de, said: “Fortuna Düsseldorf is a strong and competitive team – an ambitious club that has a fantastic fan base and suitably ‘good fortune’ as part of its name. It is our ambition to be alongside the team when they get promoted to permanently play in the 1.Bundesliga.”
Peter Frymuth, chief executive of Fortuna Düsseldorf, added: “Through the agreement with myBet.de, Infront has won one of the leading companies in the field of sports betting as a partner for our team, one that will stay committed to the club beyond the current season. The significantly increased popularity of our team has contributed to this achievement, allowing us to announce a new premium partner in our sponsorship landscape already at this point in time.”
The current 2.Bundesliga leaders recently won the 2012 Stadtwerke Düsseldorf Winter Cup, an friendly event they hosted as a warm-up for the continuation of the league season.
The multi-year deal, brokered by sports marketing company Infront Sports & Media, begins with the resumption of second-tier German domestic soccer in early February after its winter break.
Under the terms of its second-tier sponsorship, myBet.de will receive advertising within the view of television cameras at Düsseldorf’s Esprit Arena, hospitality at home matches and other promotional opportunities.
While financial terms were not disclosed, the deal is likely to be worth around US$650,000 per year.
Mathias Dahms, spokesman of the board at JAXX SE, the parent company of myBet.de, said: “Fortuna Düsseldorf is a strong and competitive team – an ambitious club that has a fantastic fan base and suitably ‘good fortune’ as part of its name. It is our ambition to be alongside the team when they get promoted to permanently play in the 1.Bundesliga.”
Peter Frymuth, chief executive of Fortuna Düsseldorf, added: “Through the agreement with myBet.de, Infront has won one of the leading companies in the field of sports betting as a partner for our team, one that will stay committed to the club beyond the current season. The significantly increased popularity of our team has contributed to this achievement, allowing us to announce a new premium partner in our sponsorship landscape already at this point in time.”
The current 2.Bundesliga leaders recently won the 2012 Stadtwerke Düsseldorf Winter Cup, an friendly event they hosted as a warm-up for the continuation of the league season.
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