DGAP-News

mybet Holding SE: Negative trend in revenue development from the previous quarters continues one more time in first quarter 2017

DGAP-News: mybet Holding SE / Key word(s): Quarterly / Interim Statement mybet Holding SE: Negative trend in revenue development from the previous quarters continues one more time in first quarter 2017 30.05.2017 / 18:15 The issuer is solely responsible for the content of this announcement. mybet Holding SE: Negative trend in revenue development from the previous quarters continues one more time in first quarter 2017

Berlin, 30 May 2017. In the first quarter of the financial year 2017 the mybet Group has reached group revenue of EUR 8.9 million. By this, revenue was down 28.9 percent against the comparable figure of the previous year (PY: EUR 12.5 million) and correspondingly the negative trend of the previous quarters continued one more time. Although mybet was able to complete the development and testing phase of the newly developed sports betting and casino platform by the end of the quarter with the full commissioning, the online business between January and March was carried out to a large extent on the old product platform correspondingly. At the same time the entire sports betting sector was affected by, from a statistical point of view, an unusual accumulation of won sports bets and so was mybet, too. This extraordinary high number of sports results forecast correctly by the customers occurred especially in February and March in the most popular betting sport football and had a strong negative impact on our hold from sports betting. In addition mybet's online casino was still out of operation during the first quarter 2017 due to the complaints raised by the authorities that could not be resolved by now.

"In the first quarter the existing trend in the development of the business basically continued, since we have put our new platform into operation by the end of the quarter. However the sports results and the high number of won bets by customers connected with them formed an additional burden which we had never experienced this way during the last years. But in total the quarter clearly shows why we did not forecast a large growth in revenue for the financial year 2017 despite the new platform. We firstly have to break the downward trend", said Markus Peuler, CEO of mybet Holding SE.