Mybet Holding SE: Greek supervisory authority approves restart of mybet's online casino in Greece. Nevertheless, full year forecast 2017 will not be met. Short-term loan will be taken out.

mybet Holding SE: Greek supervisory authority approves restart of mybet's online casino in Greece. Nevertheless, full year forecast 2017 will not be met. Short-term loan will be taken out.

Berlin, 10 November 2017. Today, the responsible Greek supervisory authority has allowed mybet Group to restart its online casino offering in Greece. Thus, the online offering will be put back into operation by mybet as soon as possible during the next few days. The restart of the Greek online casino was a prerequisite to meeting the full year forecast for the financial goals of mybet Group in the year 2017.

But, based on the development of revenues and earnings of mybet Group in the current financial year 2017, the full year forecast for the financial results of mybet Group published on 24 May 2017 will nevertheless not be met. This forecast had projected group revenues of EUR 44.5 to 47 million, an EBIT between EUR 4.5 and 5.5 million and a group liquidity by the end of the year of EUR 1.0 to 2.0 million.

The management board now is expecting mybet Group to generate in the financial year 2017 group revenues of between EUR 35.5 and 37.5 million and an EBIT between EUR 2.5 and 3.0 million.

To cover the additional funding requirements in the current year which arose from the economic development, the company is preparing financing measures. In a first step, today, a short-term bridge loan has been taken out with a volume of EUR 500,000. The loan will be paid out to mybet Group shortly and it corresponds to usual market terms. The loan is collateralised and a share of the Personal Exchange International Ltd., the maltese group company of mybet Group that stands in the centre of the operating business, is the collateral.

The final decision by the Management Board and the Supervisory Board of mybet Holding SE on conducting these financing measures as well as their terms has not been taken yet. This decision depends on the outcome of the financing negotiations with investors, which are currently ongoing. The outcome of these negotiations can not be assessed reliably by the Management Board at the current point in time.

As the expected level of the group's liquidity by the end of the year depends directly on the implementation and the scope of the additional financing measures, the Management Board will only be able to publish a new forecast for the group's liquidity by the end of the year when announcing the final decision on the financing measures.

Notifying company:
mybet Holding SE, ISIN DE000A0JRU67, Frankfurt Stock Exchange Prime Standard

Notifying person:
Sebastian Bucher, Manager Investor & Public Relations