Tag: Fredrik Burvall

Cherry AB commence external recruitment for new CEO

Betting Business Frederick Burvall Cherry
Following the announcement of current CEO Fredrik Burvall’s departure, Cherry AB has appointed an acting CEO until a new head is recruited.   The Swedish gaming company Cherry AB is looking to recruit a new CEO following news that current head Fredrik Burvall will leave his role in Summer 2017. Cherry’s Board of Directors has appointed board member Anders Holmgren, one of...

Cherry secures remaining shares in ComeOn Malta Ltd.

Betting Business Fredrik Burvall ComeOn Malta Cherry
The private gaming company Cherry has acquired the remaining shares in ComeOn Malta Ltd to become the third largest player in the Nordics.   Cherry, the Swedish online gaming operator, has confirmed it has completed an acquisition of the final 51 per cent of shares for ComeOn Malta Ltd. The company claims it exercised its option to obtain the remaining shares in...

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...

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...