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Cherry gambling group Acquires Moorgate Media

Monday December 21,2015 : CHERRY GROUP ACQUIRES NORGESSPILL AND AFFILIATE
 
Multi-million Euro deal with Moorgate Media Ltd includes affiliate agreements.
 
The Cherry gambling group has signed an agreement to acquire 100 percent of the shares in the Malta-based company Moorgate Media Ltd., a company that owns affiliate license agreements in cooperation with Web Resort.
 
Cherry has additionally acquired 100 percent of the domain, customer database and gaming site of NorgesSpill.com, and will pay Euro 4 million for 100 percent of the shares in Moorgate Media Ltd., which operates the affiliate business.
 
It is expected that the acquisition will have a positive effect on Cherry’s revenues with an estimated Euro 400,000 as well as a positive impact on EBITDA with an estimated Euro 1.2 million on an annual basis.
 
"This acquisition will have an effect from the first quarter of 2016 and onwards," a Cherry spokesman said Monday.
 
"Today, the affiliate business is accounted for as a cost within Business Area Online Gaming. The acquisition will be depreciated over five years. In addition to the acquisition of Moorgate, Cherry has acquired NorgesSpill.com for Euro 750,000. The acquisition of NorgesSpill.com is expected to add another Euro 300,000 to Cherry’s EBITDA."
 
Cherry will pay the consideration for Moorgate with Cherry shares as valued over the period 16 - 23 December 2015. The acquisition of NorgesSpill is to be paid in cash, where Euro 600,000 will be paid during Q1 2016 and the remaining Euro 150,000 due once NorgesSpill.com has been migrated to Cherry’s platform.
 
Fredrik Burvall, CEO of Cherry, said Monday: "We are very pleased to add another acquisition that will further improve Cherry’s results and cash flow. NorgesSpill.com will migrate to the Cherry platform during 2016, and we are confident that we can develop the business further.”

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Gambling News :

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

Secret Symbol Slot - RTG will soon release 'Secret Symbol', a 5 Reel Video Slot on 3/15/2017.

Microgaming is set to release three exciting new games in March - Pollen Party will literally have players buzzing with excitement as the ground-breaking, 720 way variable reel online slot is brought to life in a unique honeycomb reel layout.

NBA Odds: Resurgent Clippers Face Warriors in Oakland - After a much-needed lineup shuffle, the Los Angeles Clippers (29-27 SU, 35-21 ATS) carry a four-game SU and ATS winning streak into Thursday’s game against the best team in the NBA, the Golden State Warriors (47-9 SU, 27-27-2 ATS). Tip-off is at 10:30 PM ET on TNT.

NBA Odds: New-Look Pelicans Host Rockets on Thursday - The New Orleans Pelicans just hosted the All-Star Game and saw their very own Anthony Davis win the MVP. But the celebration was brief because the next day, the Pelicans made a huge trade,

PokerStars.CZ has launched in the Czech Republic - PokerStars.CZ has launched in the Czech Republic, becoming the first licensed online casino and poker operator under the Czech Republic’s new gaming regulation. This follows on from the approval by the Czech State Supervision of Gambling and Lotteries Department.

Luckia Games in Partnership with NYX Gaming Group - NYX will provide Luckia with its open gaming system, NYX OGS, and open platform system, NYX OPS, to support the growth of its established Spanish operation.

Sunbets to Sponsor Sutton United - Online betting operator Sun Bets has inked a one-off sponsorship deal with English association football club Sutton United for its upcoming televised clash against Arsenal FC in the FA Cup fifth round tie.

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