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NEW RESULTS FROM CHERRYFORTRAGEN
Tuesday August 30, 2011 : Online gambling group reports on January 1 - June 30, 2011 operations
Cherryföretagen, the Swedish online and land entertainment and gambling group, has reported a strong set of results for the period January 1 - June 30, 2011, highlighting the following achievements:
* Group turnover increased with 31.2 percent and amounted to SEK 207.1 million (SEK157.8 million).
* EBITDA amounted to SEK 8.8 million (9.3).
* EBIT amounted to SEK 3.0 million (3.6) - impacted by non-recurring expenses of -3.7 million concerning the replacement of its CEO.
* The number of new online players rose by 96.1 percent, to 146 863 customers (74 884).
* Europe´s biggest lottery with a daily draw, EuroLotto, was launched in January with a minimum SEK25 million progressive jackpot.
* Cherry has signed a beneficial agreement with Special Olympics regarding EuroLotto.
Second quarter interim results included:
* Group turnover increased with 5.9 percent and amounted to SEK 109.7 million (SEK103.6 million).
* EBITDA amounted to SEK 2.2 million (9.4).
* The number of active clients rose during Q2 by 173.9 percent, to 37 181 customers (13 574).
* The number of new online players rose during Q2 by 214 percent, to 21 806 customers (6 944).
* Deposits increased with 18.1 percent and amounted to SEK 155.0 million (131.3).
* The board of directors appointed Emil Sunvisson (ex-Betsafe - see previous InfoPowa report) as President and CEO, with Marius Andersen appointed COO online gaming activities by the Board of Cherry Malta Ltd and EuroSlots Ltd, subsidiaries of Cherry.
CEO Emil Sunvisson, who took up his responsibilities on August 1, commented: "Some countries have recognized that the gaming industry, if handled correctly, can contribute positively to economic development. Instead of preventing private actors and trying to maintain a monopoly, we should be open to and embrace the rapidly evolving gaming industry.
“Cherry calls [on the Swedish government] for modern legislation, where we are allowed to operate gaming with responsibility and are able to compete on equal terms.
"Cherry offers casino onshore, offshore and over the internet. Our three business areas have great similarities, but also important differences in terms of regulatory framework and technical barriers. The respect for the player and the treatment of our customers are fundamental to our success, regardless of where we offer our services."
Gambling News :
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
NY Rangers vs. Devils on 12/21 -
When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.
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