mybet lowers full-year revenue forecast

Online betting operator mybet has moved to lower its full-year revenue forecast after experiencing an ongoing “negative trend” in the third quarter.

The company said that its previous revenue expectation of between €59 million ($64.4 million) and €62 million is “no longer realistic”, and instead said revenue will now amount to between €43 million and €46 million.

The alteration comes after mybet said in its preliminary results for the third quarter that revenue for the first nine months of the year will come in at about €35 million.

However, the operator did state that its forecast of “positive low-seven figure” earnings before interest and tax remains unchanged, due in part to the sale of its pferdewetten.de subsidiary in June for €9.9 million.

Related article: mybet Holding completes sale of pferdewetten.de stake