Mybet pins hopes on platform switch as online business declines
Operator suffers reductions in sportsbook staking and active players in Q3 but firm says platform overhaul is on track
Mybet this morning posted sharp declines in Q3 staking and active players as the firm prepares to undertake a major platform overhaul which it predicts will see the company return to growth next year.
Online sportsbook staking for the three months to 30 September was down 11% to 19.74m versus the same period last year, while active online players dropped 21% for the quarter to 44,035.
However, the Germany-facing firm said there were signs of encouragement, particularly in the quadrupling of mobile betting stakes and the news that ‘Project Hera’ – the roll out of a new IT platform – was on schedule for early next year.
“Together with the new IT platform, the expanded product range will give us a decisive competitive advantage in the medium term,” Markus Peuler, mybet CFO, said.
“In conjunction with optimised processes and structures, we expect this to lead to sustainable earnings growth as of 2016,” he added.
Mybet announced plans to completely overhaul its sportsbook in May, with services supplier Amelco drafted in for the process.
Earlier this year CEO Zeno Ossko told eGaming Review the new sportsbook would be an “overhaul of the entire look and feel of mybet”.