Mystery partner for ByBet Holdings?
News on 10 Mar 2018
News on 10 Mar 2018
German betting company discusses joint venture with Malta-based strategic investor.
Who is the potential joint venture partner negotiating with German online betting group MyBet Holding SE is the question doing the rounds following a rather enigmatic press release from the company Friday.
MyBet revealed that it is currently engaged in negotiations with “a strategic investor” concerning a future strategic and operational joint venture in the online segment. The potential partner is a leading provider of sport bets and online casino games headquartered in Malta.
The parties have signed a non-binding agreement regarding the possible execution of a transaction that will give the investor at least 30 days’ exclusivity with an optional 30-day extension for these negotiations, the press release reveals.
The objective is to establish a joint venture based in Malta, in which Mybet Holding SE will directly or indirectly hold 51 percent of the shares. After that, the investor will contribute equity in a medium single-digit million range that is to serve predominantly to finance future investments in market activities. Mybet Holding SE is to contribute its online business.
“The joint venture gives us a fantastic opportunity to benefit from the expertise and skills of the potential partner. Besides, the existing partner licenses will enable us to continue expanding our business,” says Markus Peuler, CEO of Mybet Holding SE.
Mybet Holding SE operates in the gaming industry in Germany, Greece, Belgium, and Ghana. It operates through Sports Betting, Casino, and B2B segments.
