Around 18 months into a major turnaround of the business, mybet chief executive Sven Ivo Brinck abruptly announced his departure. Gaming Intelligence talks to the outgoing CEO about this remarkable state of affairs.
On January 1st 2014 Sven Ivo Brinck joined a company in chaos. mybet had always attracted a degree of respect as a well-established German operator but few would deny that it was dining out on its reputation rather than any recent success.
The company endured a miserable 2013 that saw the business post a decline in revenue, a €5.42m EBITDA loss and an exodus in which the majority of its executive and supervisory board members left. Brinck did not pull any punches when reporting the full-year results, describing 2013 as a “deeply unsatisfactory” year for the business.
The situation has begun to improve. Under Brinck’s leadership the business has become leaner, it has focused on its core sportsbook product and its poorly performing businesses in other territories have been divested. More recently, it agreed a deal with Amelco to totally revamp the sportsbook. Other Amelco clients include Amaya, Betfair and William Hill.
This is yet to translate into significant revenue growth, with sportsbook declining year-on-year despite increased customer activity, but the operator is well positioned to return to growth.
However, earlier this month mybet unexpectedly announced that Brinck was to leave the operator with long-term mybet employee Zeno Ossko taking over.
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