SBC News Cherry AB secures licence for tough Polish sports betting market

Cherry AB secures licence for tough Polish sports betting market

Updating the market, Stockholm-listed online gambling group Cherry AB has confirmed that it has secured a Polish sports betting licence, granted by the nation’s Ministry of Finance.

The Stockholm enterprise becomes the ninth gambling operator to secure a sports betting licence under the terms of Poland’s amended (2017) ‘Gambling Law’.

Complying with the mandate of Poland’s new gambling regime, Cherry governance has established a new hub office in Warsaw allowing the company to service Polish online consumers.

In its corporate update,  Patryk Włodarski, Cherry AB business consultant and responsible stakeholder for the Polish application, commented:

“We are proud to be the one of the first companies that were granted the licence. Poland is a fully regulated market and since the 2017 amendment to the gambling bill, it became our priority to obtain a licence, allowing us to offer our services online in full respect to the current laws. Now with a company in Warsaw holding a licence, Cherry is in position to introduce its first online sportsbook brand to the Polish customers very soon.”

At present, Cherry governance has chosen not to disclose any information with regards to potential Polish brands it may choose to service.

In 2017, Cherry AB restructured its operations, unifying its industry B2C portfolio under the day-to-day management of its acquired ComeOn gaming division.

The introduction of Poland’s revamped Gambling Law in 2017/18, saw European operators; William Hill, EnergyBet, bet365 and Pinnacle withdraw from the market, citing that the government’s 12%  turnover tax had made the marketplace simply unworkable.

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