Settlement improves mybet outlook

An industry advisory for mybet Holding SE raises its EBIT forecast and cash position following an Euro 11.8 million out-of-court settlement with Westdeutsche Lotterie GmbH & Co. OHG (Westlotto).

The company’s new forecast provides an unchanged revenue target of Euro 44.5 million to Euro 47 million, holds out the prospect of an EBIT between Euro 4.5 million to Euro 5.5 million as well as of a cash position between Euro 1.0 million and Euro 2.0 million.

The Westlotto payment to SWS Service GmbH, a group company of mybet Group, after redeeming a financing agreement directly connected with the legal proceedings, leads to an inflow of additional liquid funds in the amount of around Euro 4.9 million during the second quarter 2017, the company said.

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