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mybet Sells Pferdewetten.de for €9.9 million

German betting firm mybet has announced that they have completed the sale of German betting site pferdewetten.de for a large €9.9 million price tag.

The deal was originally announced last week, when mybet said it had reached an agreement to sell its 1.8 million shares in the company. Under the terms of the deal, mybet got a €5 million payment, as well as €3.5 million coming after the transactions with the sale are wrapped up.

The completed deal will see mybet's full year fiscal results impacted, as they have adjusted their forecasted revenues down roughly €1-4 million.

No comment on the deal was available as of press time.

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sharpe's picture
Location: Sofia, Bulgaria
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23 June 2016 - 8:53pm

Don't know if that price is good or not for the seller but definitely sound like quite good amount of money for a site that I've had never heard of before, even though the site don't operate in my country. I guess from mybet are quite happy with the deal.