Mybet Poker Closes for Business

Mybet poker today closed its doors for business after low revenues forced the iPoker skin to cease trading so that mybet Holding SE could fully concentrate on their more profitable sportsbook and casino offering.

In a statement from the company mybet concluded, "It’s been a good time we had at mybet Poker, but even good things sometimes come to an end,"

It is understood that players balances, if not already cashed out, will be automatically moved to their mybet wallet where they can either cash out, or transfer the balance to either the casino or sportsbook to play there. Furthermore, any player points sitting in the poker account can be converted into cash up to the 15th of next month.

Accoring to mybet Holding SE Manager Investor & Public Relations Manager Sebastian Bucher said in a press release, "The group generated revenues of around EUR 1.0 million in the financial year 2015 from Poker, compared to annual total revenues of EUR 63.0 million," with CEO Zeno Ossko adding, "The poker business contributed with only a minor share to our revenue and delivered virtually no contribution to the operating result of the group. In addition, we do not see a sufficient growth potential in this area to support the operational turnaround in the short term.

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