Mybet to overhaul sportsbook
German operator to work with trading and platform supplier Amelco on a more stable sports betting product as it looks to catch up with rivals
Mybet has entered into a partnership with trading platform and services provider Amelco to “comprehensively overhaul” its sportsbook with a focus on system stability.
The deal with the UK-based firm is still subject to a contract being agreed but is expected to be completed next month.
“We are delighted to have found a strong and experienced partner with which to realise our goals in Amelco,” Sven Ivo Brinck, Mybet’s CEO, said.
“The product solution to be developed in partnership with Amelco is based on the successful services already provided by Amelco and encompasses sports betting, risk management and bonus administration,” he added.
The move comes as Mybet continues to overhaul its online offerings, with a new native application expected this summer, and the company has pledged to use proprietary products to make up ground on its competitors.
“We are developing a multifunctional product range that will revolutionise our sports betting range across all our sales channels, online and offline,” Brinck said.
Together, we will be able to speed up realising the innovations and transformation processes that we have embarked upon under the auspices of the change project,” he added.
Mybet recently reported a 10% year-on-year rise in revenues for 2014 and a small EBIT profit, but saw the digital side of the business struggle with a decline in online staking, as it pledged to rethink its digital strategy.
Chief financial officer Markus Peuler said that while the investment needed for the Amelco deal will hit 2015 profits, it will produce “overproportional” earnings growth for 2016.