Mybet Italia planning overhaul following buy-out
New owner Gianluca Torricelli seeking investment to finance new product push following deals with Amaya's Ongame and Active Games networks
The new owner of mybet’s former Italy-facing business is seeking investment in order to reposition and expand on its product offering in the country.
Gianluca Torricelli, who previously served as the managing director of mybet.it, last month purchased the subsidiary for an undisclosed fee four months after the operator confirmed it was to spin-off the underperforming unit.
And speaking to eGaming Review this morning, Torricelli said he planned to overhaul the business’s product offering in order to refocus it for the Italian market.
“We’re trying to enlarge the offer of products, and we’re dealing with investors now to continue and improve the business,” Torricelli added.
Mybet.it is continuing to trade as before, however it has struck deals with Amaya to join its Ongame poker and Active Games bingo networks earlier this year, and has signed with clickandplay.it operator Casino di Venezia for its suite of casino products.
But while casino has been highlighted as the vertical in need of the most development, the operator is not turning its back on its sportsbook and it will continue to offer sports betting in the country.
Torricelli confirmed that the business is in talks with an outsider investor to finalise its relaunch plans, but could not disclose the investor’s identity at this time.
Discussions are to be had with the investor regarding the company’s brand, with the operator retaining the option to operate under the mybet.it brand should it choose to do so.
“Our plan is to improve our products but with a strong focus on casino, and we will look to have one of the newest and most attractive live casinos on board,” Torricelli said.
“We will then go for mobile and leverage the offer to be one of the most attractive in the market,” he added.
Mybet.it first launched in 2013, however the parent company decided this year to spin-off the business in order to concentrate on its domestic German market after being one of 20 operators to receive a sports betting licence in the country.