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pferdewetten.de stake sale forces mybet to cut full year revenue forecast

16th June 2016 11:22 am GMT

German gaming operator mybet Holdings has completed the sale of its stake in horse racing betting business pferdewetten.de, but has been forced to cut its predicted revenue for 2016 as a result.

The sale of the operator’s 52.2 per cent holding in pferdewetten.de to individual investors, amounting to 1,810,307 shares, has raised a total of €9.9m in funds for the company.

It has used this income to fund an exchange of collaterals [...]

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