Tag Archives: Cherry AB

Online assets help Cherry AB return to black in 2015

Stockholm listed gambling operator, Cherry Gaming AB has returned to full year (2015) positive EBITDA recording group earnings of SEK 35.9 million (£3 million). The operator continues its strong online performance, which contributed 69% of 2015’s FY SEK 528 million (£43 million) group revenues, up 56% on 2014’s SEK 340 million (£28 million). The results presented by Cherry governance, represent …

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Cherry AB appoints Aron Egfors as MD of Restaurant Casino

Cherry Gaming AB (Cherry AB) has confirmed the appointment of Aron Egfors as Managing Director of its Nordic focused land based gaming division ‘Restaurant Casino’ (Cherry Spelglädje AB) Egfors succeeds current Cherry Gaming CEO Fredrik Burvall as MD of the casino subsidiary. He gains promotion to MD of Cherry Spelglädje AB, following 18 years’ service with the operator. He will be tasked …

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Game Lounge expands in Finland with Suomicasino.com launch

Cherry Gaming AB has moved to further extend its presence within the highly competitive Finnish igaming market, by announcing the launch of Suomicasino.com Suomicasino.com a Finnish market tailored white-label casino, will be operated by Cherry AB marketing subsidiary Game Lounge. The casino will feature gaming content from Cherry AB’s Yggdrasil Gaming, and further inventory from Amaya Inc, NetEnt and Microgaming. …

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Cherry AB increases Almor Holdings stake to 75%

Swiss listed European igaming operator Cherry AB has confirmed that it has increased its majority stake to 75% in Malta based German facing online casino operator Almor Holdings. Cherry AB who acquired 71% of the operator in July of this year for a sum of €4.6 million, released a short statement informing the market of its increased shareholdings which amounted …

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Cherry AB appoints Fredrik Burvall as CEO

Following its Annual General Meeting (AGM), the Board of  Directors at Cherry AB  has appointed Fredrik Burvall as new CEO and President of the Cherry group with immediate effect. Fredrik Burvall has been employed by the company since 2006 as Vice President and CFO and since December 2014 he has been the acting CEO and President of the group. Commenting …

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Cherry AB suffers Q1 2015 earnings decline

Reporting on its opening Q1 2015 quarter (period ending 31 March) European igaming operator Cherry AB has recorded its ninth consecutive earnings quarter loss, despite seeing improved gaming revenues of SEK 95 million (£7.3 million) 31% on Q1 2014 SEK 73 million. Despite delivering improved revenues the Malta based operator reported EBITDA earnings of SEK -4.5 million (£350,000) for the …

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Strong Q4 2014 performance helps Cherry AB post full year revenue growth

Scandinavian igaming operator Cherry AB, reported that Q4 2014 revenues increased 33% as the company finished 2014 strongly. The operator stated that improved player activity and deposits in Q4 2014 had grown online gambling turnover by 60%. Cherry AB was able to record Q4 group revenues of SEK 99.8 million (up 33% on Q4 2013 – SEK 75 million). Igaming …

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Cherry AB stops investment in Swedish sports lotto Klubblo

Cherry has decided to phase out its involvement in the Swedish sports lottery Klubblo, as the conditions for conducting the business have changed. The Swedish gaming regulator, Lotteriinspektionen, has changed the application of the regulatory framework, which has made it impossible for Klubblo to cooperate with sports associations whose federations are not members of the sports alliance Idrottsalliansen. Some major …

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Cherry AB reports improved revenue performance & reduced losses

Casino operator Cherry AB reported increased corporate revenues of SEK90 million (£7.6millon) up 29% on Q3 2013 SEK 69 million. The operator noted that its improved performance had been driven by growth in its online casino vertical , as active players grew by 33% and player deposits increased 55% during the period ending 30 September. The improved performance has helped …

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