Mybet Cuts Losses in Spain and Italy

Published on 30 September 2014 by Rhi

Mybet Cuts Losses in Spain and ItalyStrictly licensed markets such as Spain and Italy are incredibly hard for even the biggest outside gaming operator to crack and this year, Mybet finally gave up the ghost with its operations in these two tough countries so it could focus more on it’s core market groups.

Last month Mybet sold their Spanish businesses Digidis SL and Digidis SA in a bid to “eliminate potential risks” and “ensure greater stability within the group”. Mybet received around €275,000 for the sale of the two companies and CEO Sven Ivo Brinck stated it was an inevitable move “in order to make Mybet competitive for the long haul.”

Then, this month, the sale of Mybet’s Italian-facing “Mybet Italia’ brand was completed. This was sold to the current Mybet Italia managing director, Gianluca Torricelli, who has been in the position of MD since 2010. This latest sale came after Mybet’s business in Italy didn’t develop as they had hoped.

Both of these moves are the result of a multi-million Euro loss in 2013, which they are working incredibly hard to recover from. This is all good news for players though, as Mybet cuts away the non-essential parts of their business, you can be sure they’ll be working extra hard on those areas that really count.