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Cherry Stops Investment in Swedish sports lottery
Friday January 30,2015 : CHERRY HALTS INVESTMENT IN SPORTS LOTTERY
End of the line for Klubblo as market conditions change.
The Swedish online gambling group Cherry has decided to phase out its involvement in the Swedish sports lottery Klubblo, citing changing conditions for conducting the business.
In a statement Friday, Cherry explained that 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 federations, including the Football Federation and Ice Hockey Federation, are prevented from joining the Sports Alliance due to exclusivity agreements with the virtual online gambling monopoly Svenska Spel.
Fredrik Burvall, CEO, Cherry, said in the statement: "The goal was that Klubblo, with its focus on grass root sports, would take a strong position as a partner to Swedish sports within the area of gaming and lotteries. Under the prevailing conditions, Klubblo does not fit into Cherry's strategy."
Burvall expects that liquidity will be be affected negatively by approximately SEK -1.5 million during the fourth quarter and the remainder of 2015. Impairment of assets and shares as well as results related to Svenska Klubbspel AB will be charged to financial income from associated companies with SEK -7.7 million and will be reflected the Q4-2014 report.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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