Friday, October 23, 2020

Tag: Cherry

Cherry in $1bn consortium bid

Cherry Casino, Sweden, gambling, group
Swedish gambling group, Cherry, is at the centre of a $1bn takeover bid from a consortium of investors looking to take the company private. The target firm’s bid committee has already recommended that its shareholders accept the offer of SEK87…

Cherry’s CEO under investigation by Swedish Economic Crime Authority

Share prices
Cherry AB has been informed that the Swedish Economic Crime Authority has initiated an investigation for insider crime as a result of share trading by Cherry’s CEO, Anders Holmgren. The company’s Stockholm headquarters were searched on in relation to the probe, with Holmgren arrested. Holmgren is being replaced by Gunnar Lind, chairman of the Cherry Audit Committee, as acting CEO of...

Cherry’s revenues nearly double for Q2

BBi Cherry financials
Cherry, the Swedish iGaming provider, has revealed huge growth for the second quarter of 2017. Group revenue increased by 179 percent year-on-year to SEK536m ($66m), with organic revenue growth amounting to 37 percent. Profit for the period amounted to SEK15m. Additionally, earnings per share before and after dilution amounted to SEK0.03. “We continue to be a profitable, fast-growing company,” Cherry CEO Anders...

Cherry reports strong growth for Q1 2017

BB - Jackpotjoy accounts report AGM Cherry Yggdrasil Newgioco strong
The Swedish gaming company, Cherry, has recorded continued strong growth and improved profitability during the first quarter of 2017.   Cherry’s Q1 2017 report saw the group’s revenue grow by 205 per cent year-on-year to MSEK 541 (177), with organic revenue growth amounting to 44%. The company also saw profitability improved and EBITDA increased by 224per cent to MSEK 83 (26) and...

Cherry completes grand slam of industry awards

Betting Business - Cherry completes grand slam of industry awards
Cherry crowned at IGA Awards for fourth consecutive year. Cherry has won a grand slam of industry titles at the International Gaming Awards, marking the fourth consecutive year that the group has been honoured at the ceremony. ComeOn, which was acquired by Cherry in 2016, was named Online Sportsbook Operator of the Year. Hans Martin Nakkim, spokesperson at ComeOn, said: “ComeOn has...

Cherry announces new independent B2B business area, XCaliber

Betting Business Cherry XCaliber
Swedish gaming company Cherry has invested in a gaming technology B2B business area called XCaliber to support the company’s growth within the industry.   Cherry has launched a new fully independent gaming technology B2B business area named, XCaliber. The new service will allow the Swedish company’s gaming platform and technological services to be sold directly to partners and operators. XCaliber will also provide...

Cherry Interim report shows profitability across brands for 2016

Betting Business Cherry
The latest Cherry Interim Report for Q3 highlights revenue increases across group with significant profits for Game Lounge and Yggdrasil.   The Cherry Interim Report recorded Q3 revenue growth of 39 percent year-on-year to MSEK 214.0 across the Cherry Group which follows revenue increase of 64 percent to MSK583.0 for the first nine months of 2016. Cherry’s latest report, which covers 1...

Cherry confirms acquisition of restaurant casino brand Betman

Betting Business Cherry Betman
Swedish gaming giant Cherry confirms acquisition of restaurant casino brand Betman   Cherry has agreed to acquire the casino agreements, casino staff and equipment from Betman AB as of 1 October 2016. Betman operates restaurant casino in 15 venues with 27 gaming tables in Stockholm, Sälen and Visby. Fredrik Burvall, CEO Cherry AB, commented: "The acquisition of Betman means that we further...

Strategic success sees 83% turnover boost for Cherry

Betting Business, Cherry, Fredrik Burvall
In the first six months of the year, B2B and B2C gaming operator Cherry saw strong revenue growth across all wings of the business, while the company announces its intentions to continue with a spate of new acquisitions.   Cherry CEO Fredrik Burvall has applauded the company’s successful acquisitions strategy as the company reports a hike in revenues for the first...

Cherry Online reboots classic casino site EuroSlots

Betting Business, Cherry, EuroSlots, casino,
EuroSlots has been given a reboot with greater marketing resources, thanks to a new partnership with Malta- and Denmark-based agency Power Media Group and their affiliate network Matching Visions. A master affiliate agreement has been signed and Cherry expects increased activity focussed on the Pan-European market as a result of the cooperation.   Originally launched in 2012, EuroSlots has received a...

Game Lounge expands into Germany & UK through acquisition

Betting Business, Game Lounge, Cherry, Interclick
Game Lounge, owned by Cherry, has signed an agreement to acquire the assets of the affiliate company Interclick Limited for a price of $1.5m (€1.3m). Interclick Limited has been active within the German and UK markets for the past 14 years and Game Lounge acquires more than 40 domains and affiliate accounts through the acquisition.   In addition to incremental earnings,...

Cherry completes €80m ComeOn acquisition

Betting Business, Cherry ComeOn
Cherry AB has completed its acquisition of 49 percent of the shares in online casino operator ComeOn.   The consideration for the 49 percent has been paid with 2,901,475 B-shares and €39.7m in cash, making a total outlay of €80m. The issue of shares has been directed to the sellers of ComeOn and represents a 16.8 percent dilution in Cherry. In the...

Cherry acquires ComeOn

Cherry Fredrik Burvall
Online and land-based casino operator, Cherry AB has signed an agreement to acquire 49 percent of shares in Come On Malta, with an option to acquire the remaining 51 percent. A leading company in the rapidly expanding online gaming market on desktop, tablet and mobile, ComeOn’s offering complements Cherry with well-known brands and strong positions, predominantly in the online casino...

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