Categories: Industry News

mybet Holdings files for insolvency proceedings

Reading Time: 1 minute

The governance of Frankfurt Xetra-listed betting group mybet Holdings SE has today issued a corporate update informing investors that it has filed for ‘open insolvency proceedings’.

The insolvency update follows mybet governance failure to sell the business to an undisclosed investor, as previously reported in July 2018.

This Friday, governance will file its insolvency application for three syndicated companies, of which mybet forms part of.

In its update, mybet’s board further informs investors, that it owes circa €4 million in sports betting taxes to the German tax office.

The betting group details that it had its request for a temporary tax suspension, denied by Frankfurt courts.

“The background for the application for the opening of insolvency proceedings is the failure of discussions with potential investors. Today, the discussions with a strategic investor reported by ad-hoc on the 13th July regarding the possible sale of the online business of mybet Holding SE under the domain www.mybet.com were closed.

These talks failed due to conditions set by the investors which could not be fulfilled” details mybet in its corporate update.


Source: European Gaming Industry News

Zoltan Tundik

After starting out as an affiliate in 2009 and developing some recognized review portals, I have moved deeper into journalism and media. My experience has lead me to move into the B2B sector and write about compliance updates and report around the happenings of the online and land based gaming sector.

Recent Posts

Paf and Tallink Grupp sign new multi-year agreement

Reading Time: 2 minutesThe Nordic gaming company Paf has signed a new multi-year cooperation agreement with the shipping company Tallink… Read More

6 hours ago

DreamHack reveals EU expansion with the launch of DreamHack Stockholm for 2024

Reading Time: 3 minutesDreamHack, an ESL FACEIT Group brand is set to break new ground in 2024 as it enters… Read More

12 hours ago

Kindred Observes Safer Gambling Week

Reading Time: < 1 minute  Kindred has shown its commitment to responsible gambling during the Safer Gambling Week. During the… Read More

5 days ago

Spelinspektionen Gains Approval to Increase Swedish Gambling Fines

Reading Time: 2 minutes  Spelinspektionen has welcomed new changes to Sweden’s Money Laundering Act that will allow the gambling inspectorate… Read More

6 days ago

CreedRoomz Gains Danish Licence for Live Casino Games

Reading Time: < 1 minute  CreedRoomz, a prominent player in the realm of live casino solutions, is delighted to announce… Read More

6 days ago

BLAST Partners with Visit Denmark

Reading Time: 2 minutes  BLAST has partnered Visit Denmark, the Official Tourism Organisation of Denmark, ahead of the upcoming Fall… Read More

1 week ago