Mybet Holdings management board confirmed this (Tuesday) afternoon that it is preparing an application to open insolvency proceedings after talks with a strategic investor collapsed.
The board said in a statement that the company owes 4m (£3.5m/$4.5m) in sports betting taxes and faces imminent illiquidity.
An application covering all three of mybets German group companies will be submitted to the relevant local court this Friday.
Last month, mybet appeared to have secured a lifeline when a non-exclusive term sheet was signed with an unnamed investor for the Berlin-based online sports betting and casino companys B2C online business.
The background for the application for the opening of insolvency proceedings is the failure of discussi…
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