German-based online betting operator Mybet has been issued a licence by the UK Gambling Commission.
The granting of the licence follows the implementation of the PoC regime, which requires all companies offering and promoting remote gambling services to UK players to acquire a permit.
Mybet has also been boosted by its capital increasing on a ratio of 10:1.
CEO Sven Ivo Brinck said: “Despite the initially difficult market environment, Mybet succeeded in winning the support of almost all existing strategic investors along with many new ones. Although the target volume was not achieved in full, the goals for securing the licence have nevertheless been met.”
Mybet Holding SE’s capital stock will rise from €24.2m to €25.5m as a result of the capital increase, while it will also hold gross issuing proceeds of approximately €1.86m.