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Record increases in revenues for Cherryforetagen

Posted 2/24/11 : Record increases in revenues, customers and profit after tax at Swedish operator
 
Sweden's Cherryforetagen land and online gambling group posted an impressive year end set of results this week, showcasing a profitable 2010.
 
Highlights for the full year included:
 
* EBIT increased to SEK23.3 million (2009 SEK3.2 million), an increase of 628.1 percent.
* Consolidated sales increased by 39.4 percent and amounted to SEK374.9 million (2009: SEK269 million).
* EBITDA increased by 131.1 percent to Euro 34.2 million (2009: Euro14.8).
* Profit after tax increased to SEK 20 million (SEK1.7 million).
* Cherry completed the acquisition of the Automatic (Machine) Scandinavian group on 31 March 2010. It enjoyed turnover in Q2-4 of SEK133.8 million with profit of SEK25.3 million.
* Cherry increased its market share in the restaurant casino sector to 53 percent (2009: 46.5 percent) of the active tables.
* Gambling agreements with Minoan Lines and Polferries in 2010.
* Cherry extended central contract with Harry's Pubs AB were extended for a further three years.
 
The company reports a good start to 2011, launching EuroLotto.com as Europe's biggest lottery daily drawing in 23 languages and offering a guaranteed jackpot of at least Euro 25 million, as well as scratch cards with a maximum win of Euro 5 million.
 
CEO Gunnar Lind commented: "The fourth quarter is the strongest ever for Cherry. It is one of the few gaming companies that offer online gambling, on the ocean and in restaurants. We are proud that during 2010 we have increased turnover by 39.4 percent and EBIT by 628.1 percent. The fourth quarter was Cherry's best since listing in 2006 and EBIT rose by 430 percent compared to fourth quarter 2009."



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Alegriabet Finally Launches - Our online betting site will deliver a full, market-leading suite of services including pre-match and live betting as well as virtual sports

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2 New Christmas Slots For Microgaming - Microgaming’s jolly game additions this December. Microgaming adds two more games to kick off the festive season, in addition to its action-packed Highlander online slot.

SportsBetting Supreme Court Showdown - Sports Law, Betting and Integrity leaders convene to preview Supreme Court Showdown. Thought leaders weigh in on Christie vs. NCAA (which in January will shift to Murphy vs. NCAA)

Mega Moolah Progressive Slot Pays Again - On 15 November 2017, the Mega Moolah jackpot was won by a Grand Mondial Casino player. They took home €938,306.35.

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NBA Odds: Heat Can Burn Cavaliers in Cleveland - The Cleveland Cavaliers (12-7 SU, 6-12-1 ATS) may have turned their season around, but they’ve got a challenging matchup this Tuesday against the Miami Heat (9-9 SU, 7-9-2 ATS), tipping off at 7 PM ET on NBA-TV. Miami is 7-4 SU and 6-5 ATS against the Cavs since LeBron James went back to Cleveland in 2014.

Games Concept Day in Malta - The Quickfire Games Concept Day is the second full-day workshop to date, the first being held in Gibraltar in July.

AFC’s fight against match-fixing - The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.

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