Head of mybet cites challenges
Zeno Osskó, chief executive of mybet, has said that the online operator was able to fend off an “array of challenges” during the 12 months to December 31, 2015, despite having suffered year-on-year losses.
Adjusted revenue came in at €69.2 million ($78.8 million), slightly lower than the €70.4 million posted in the previous year.
Betting revenue fell across various business segments, including sports betting and casino and poker, but a slight increase in horse betting was noted.
However, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) dropped from a positive figure of €3 million in 2015 to a loss of €1 million.
Adjusted net profit dropped from a plus of €215,000 to a loss of €8 million, while adjusted earnings before interest and tax also slumped to a loss of €9.2 million.
Adjusted earnings per share shifted from a negative of €0.02 in 2014 to a negative of €0.35 in the most recent 12-month period.
“We were confronted with an array of challenges in the past financial year, but the development especially in our core area of sports betting confirms our strategic direction,” Osskó said.
“The rise in betting stakes even in the absence of a major sporting event and considering the burden on operations in Greece demonstrates that our omnichannel strategy is bearing fruit.
“We now enable our customers to use all mybet sales channels using one central betting account.
“For a further boost to customer loyalty, we have also specifically transferred measures from the online sector to retail business.
“Satisfied customers are our top priority, and in conjunction with a high-performance IT platform are the basis for sustained growth in revenue and profit over the coming years.”
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