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Cherryforetagen Scandinavian market the target for new strategy

2/1/10 - Cherryforetagen, the land based casino element in Sweden's publicly listed gambling group Cherry, is said to be making moves on the a wider front that includes online operations with its acquisition of Coys, a significant player in the Scandinavian online gambling market.
 
Cherryforetagen is a stablemate to Betsson and Net Entertainment within the Cherry group, which has presumably encouraged its wider ambitions. In February 2008 the company launched an online operation branded PlayCherry.com, which will now be integrated into the Coys operations.
 
These include brands like DanmarksAutomaten, NorgesAutomaten and SverigeAutomaten, which together boast some 55 000 registered customers according to company information releases.
 
Coys has another Cherry Group connection - its white label online casino is provided by Betsson.
 
Talking about the acquisition this week, Cherryföretagen chief executive Gunnar Lind said: “This is a strategically important acquisition which gives Cherry access to established brands in online gaming and enables it to reach critical mass.
 
"We see great opportunities for continued expansion in both existing and new geographic markets. From a long-term perspective, we feel that physical games and online games will be linked together, creating new opportunities.”
 
Coy owners Morten Klein and Lorang Andreassen, who are understood to be both former Cherry Group employees, will remain as part of the Coys management structure.
 
The acquisition could earn a projected increase in turnover for Cherryforetagen of around SEK 150 million this year alone, increasing net profit numbers by some SEK 30 million, calculated on Coy's 2009 results.
 
The consideration paid for Coys will consist of an initial cash payment of  SEK 50 million; payment with shares of Cherryföretagen AB to the value of  6.8 million shares; SEK 10 million in deferred payments and an undisclosed amount to be based on performance over the next three years.



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

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.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

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.

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