Mybet to file for insolvency
Decision comes after talks to sell the German operator’s online business fell through in recent days
Mybet has announced plans to file for insolvency after the proposed sale of its online business to an unnamed investors fell through.
The Germany-facing bookie today said it aimed to file the insolvency papers on Friday.
Mybet said in July it planned to sell its online B2C business for a “high seven-figure” sum, but that deal fell through due to “conditions set by the investors which could not be fulfilled”.
The operator said the decision to file for insolvency was also influenced by the decision from Frankfurt Tax Office to reject a Mybet appeal to suspend payment of sports betting taxes.
Following that ruling the firm owed €4m of sports betting taxes.
More to follow…