A promising and fast-growing company, Swedish-headquartered developer, Cherry AB, recently received good news. Namely, it was confirmed that all of their license applications for both betting and online gaming have finally been approved by the Swedish Gambling Authority.
Changes Take Effect from January 2019:
Fortunately, these positive modifications won’t take too long to take effect. Furthermore, as soon as next year begins, they will come into force. Eight brands within the Online Gaming business will have the opportunity to provide Swedish market with their products regarding betting and gaming.
President and CEI of Cherry, Gunnar Lind stated:
“Although, the licence applications have involved a considerable amount of work, we are convinced that the Swedish regulations provide better conditions for gaming operators, our customers as well as for us as a company and therefore also for our shareholders. Sweden is an important market and we intend to continue growing from our already strong position.”
Multifunctional Company:
Cherry is also one of a small number of operators that are for the time being offering land-based commercial gaming in Sweden.
Their Restaurant Casino business area has been waiting for an approval for more than fifty years and with a re-regulated Swedish gaming market, they will be able to raise their stakes when it comes to dice games, card and table and at the same time broaden their assortment.
Cherry Spelglädje has submitted approximately more than 270 license applications for various land-based commercial gaming to the Swedish Gambling Authority (SGA).
Each license is actually intended for a gaming venue, meaning places in which gaming is organized by Cherry Spelglädje.
Casinos that have acquired licenses for betting and online gaming are: Cherry Casino, Casinostugan, Hajper, Mobilautomaten, ComeOn, Snabbare and two more.
Always Interesting with Cherry AB:
It seems like you can never get bored if you’re working in this company. Just recently, one of the biggest investors in the world, Bridgepoint made a staggering offer to co-opt their corporation. We are talking about staggering $1 billion which is around 9.19 billion Swedish crowns.
An independent committee decided to examine the bid recommended shareholders accept the offer of 87 Swedish crowns per share. Mika Herold, Bridgepoint partner talked about this offer and said:
“We also believe that many of the opportunities and challenges facing Cherry and its subsidiaries are easier to approach in a private setting and with a more favorable capital structure.”
Recently, the gambling industry was stricken with several integrations of online gambling companies. One of those cases occurred when William Hill made an offer to Sweden’s Mr. Green & Co.
Source: “Cherry Has Been Granted Eight Gaming Incenses For Online Gaming And Betting” https://europeangaming.eu/portal/press-releases/2018/12/21/35513/cherry-has-been-granted-eight-gaming-licences-for-online-gaming-and-betting/. European Gaming. December 21, 2018.
“Bridgepoint Makes $1 Billion Offer To Take Over Cherry” https://europeangaming.eu/portal/latest-news/2018/12/19/35279/bridgepoint-offers-1-billion-to-swedens-cherry-as-takeover-offer/. European Gaming. December 21, 2018.
Comment: 8 gaming licenses? Great job guys! I hope that this is just the beginning of lucrative future!
