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Cherry Q4 Fisical Results

Tuesday February 18 ,2014 : INVESTMENT IN ONLINE AFFECTS CHERRY RESULTS
 
But platform laid for further growth and development
 
Swedish gaming operator Cherry has reported substantial growth in online gaming in its Fourth Quarter 2013 and Full Year 2013 fiscal results.
 
Ongoing investment in the online business sector, while substantially burdening Cherry's 2013 results, have provided the company with the platform to develop further, said Emil Sunvission, chief executive officer.
 
Cherry launched several new brands on its own platform, that support both mobile and PC.  It also invested in an organization that will manage support, marketing, payments and marketing to further build brand awareness.
 
Key highlights in the fourth quarter ending December 31, 2014 include:
 
•     Group turnover increased by 16 percent and amounted to SEK 75.0 million (Q4/2012: SEK 64.8 million).
 
•     EBITDA amounted to SEK -10.7 million (Q4/2012:SEK 1.9 million). EBIT amounted to SEK -11.9 million (Q4/2012: SEK 0.2 million).
 
•     The result after tax amounted to SEK -10.6 million (Q4/2012: SEK 0.4 million) equivalent to SEK -0.80 million (Q4/2012: SEK 0.03 million) per share after dilution.
 
•     Online Gaming grew 31 percent and active customers increased 56 percent. Deposit increased 45 percent and customer intake increased 44 percent.
 
•     Cherry has acquired the online gaming company Web Resorts, which among others operate the brands NordicSlots.com and NorgesSpill.com. The purchase price amounted to Euro 3.3 Million in a cash consideration and an additional performance based purchase price of up to Euro 1.0 million. The business has so far developed slightly above expectations.
 
•     Restaurant Casino reported all time high turnover and EBIT. The turnover increased 4 percent and EBIT 26 percent.
 
•     Yggdrasil Gaming has successfully launched its first online slot.
 
•     Group cash amounted to SEK 68.4 million (Q4/2012: SEK 59.0 million) at the end of the period, excluding additional purchase price of SEK 60.0 from the sales of Automatensites, which will be paid in February.
 
Key highlights for Full year 2013 included:
 
•     Group turnover increased 15 percent and amounted to SEK 266.3 million (FY2012: SEK 231.5 million).
 
•     EBITDA amounted to SEK -24.0 million (FY2012: SEK 11.8 million). EBIT amounted to SEK -33.9 million (FY2012: SEK 6.1 million).
 
•     The result after tax amounted to SEK -33.7 million (FY2012: SEK 2.1 million) equivalent SEK -2.53 million (FY2012: SEK 0.16 million) per share after dilution.
 
•     Online Gaming grew during 2013 by 32 percent.
 
•     Restaurant Casino increased turnover by 3 percent and EBIT by 2 percent.
 
Yggdrasil Gaming is reported to be developing on a positive note making a commercial breakthrough with the launch of new games and the signing of game supply agreements with leading Nordic operators.
 
Cherry is set to launch Klubblo, described as a simple way for sports associations to finance its operations that Cherry develops in co-operation with Swedish sports, represented by Idrottsalliansen, and the Metro Group.
 
In closing, Sunvission said Cherry expects continued growth and improved earnings in 2014.



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.

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.

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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