Cherry buys 71% stake in Almor assets to further German inventory

Cherry Gaming governance has confirmed that it has acquired a 71% stake in Malta based igaming operator Almor Holdings for a sum of €4.6 milion. Cherry Gaming will utilise the acquisition to expand its casino services for the German speaking markets.

Almor’s principal brands Sunmaker, Sunnyplayer and Kingplayer have established a strong position in their core markets since the business launched in 2011, offering a large range of online casino games and a sportsbook. These brands had over 55,000 active customers in the first 5 months of 2015 and a registered customer database of approximately 355,000.

Fredrik Burvall, President and CEO of Cherry, commented:

“Cherry has developed a strategic position in Germany, where we already hold all currently available online casino licenses, including in Schleswig Holstein. With this acquisition, Cherry immediately becomes a major online casino player in this major European market. In the short-term this enables Cherry to grow significantly and to strengthen the Online Gaming business division. The deal gives Cherry a larger and more significant presence in continental Europe, contributing positively to both our margins and our growth prospects.”

Alexander Knopf, Director of Almor, added:

“We are delighted to be joining Cherry, whom we believe to be the ideal partner for Almor to continue its remarkable growth. Cherry’s international reach, multiple licenses, flexible technology platform and in-house game development will be highly complementary to our local market knowledge, established brands and customer base.”