Industry News

mybet Holdings files for insolvency proceedings

Published

7 years ago

August 15, 2018

Zoltan Tundik

Reading Time: < 1 minute

The governance of Frankfurt Xetra-listed betting group mybet Holdings SE has today issued a corporate update informing investors that it has filed for ‘open insolvency proceedings’.

The insolvency update follows mybet governance failure to sell the business to an undisclosed investor, as previously reported in July 2018.

This Friday, governance will file its insolvency application for three syndicated companies, of which mybet forms part of.

In its update, mybet’s board further informs investors, that it owes circa €4 million in sports betting taxes to the German tax office.

The betting group details that it had its request for a temporary tax suspension, denied by Frankfurt courts.

“The background for the application for the opening of insolvency proceedings is the failure of discussions with potential investors. Today, the discussions with a strategic investor reported by ad-hoc on the 13th July regarding the possible sale of the online business of mybet Holding SE under the domain www.mybet.com were closed.

These talks failed due to conditions set by the investors which could not be fulfilled” details mybet in its corporate update.

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Zoltan Tundik

Zoltán is a self-taught publisher and events organizer who has developed several brands and services that have increased the notoriety of his company within multi-billion dollar industries. In 2018, he has become a TEDx speaker and talked about reputation management in the digital era. As Co-Founder of HIPTHER Agency, Zoltan has helped develop highly respected online news portals, virtual and in-person conferences that cater to multiple industries on 5 continents. Among the developed brands and services you can find online news portals that cover several tech industries, gaming, blockchain, fintech, artificial intelligence, and more. In parallel, the company has built a portfolio of annually organized boutique-style conferences in Europe and North America. All the events organized by his company focus on bringing a wealth of information about the latest innovation in several industries such as Entertainment, Technology, Gaming and Gambling, Blockchain, Artificial Intelligence, Fintech, Quantum Technology, Legal Cannabis, Health and Lifestyle, VR/AR, eSports and many more. Zoltan enjoys writing articles on all portals owned by the HIPTHER Agency, talking at conferences, hosting the weekly HIPTHER Talks Podcast, and loves spending time with his family. Zoltan is a duathlete who enjoys training for different international competitions which include running and cycling.