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Cherry AB has published its Q1-2015 results

Wednesday May 13,2015 : ONLINE GAMBLING THE MAINSTAY IN CHERRY AB ENTERPRISE
 
Online vertical delivers 63 percent of group revenues.
 
The Stockholm-listed land and online gambling group Cherry AB has published its Q1-2015 results, flagging the following highlights:
 
* 49 percent growth for online gaming and 156 percent growth for software subsidiary Yggdrasil Gaming;
 
* Group revenue up by 31 percent to SEK 95.3 million (previously 73.0);
 
* Online gaming makes up 63 percent (55) of group revenue;
 
* EBITDA amounted to SEK -4.5 million (-4.3). EBIT amounted to SEK -8.9 million (-7.6);
 
* The company posted an after tax loss of SEK -11.8 million (-8.1), equivalent to SEK -0.88 (-0.59) per share after dilution;
 
* In January, Cherry acquired 51 percent of the shares in the affiliate management company Game Lounge Ltd, enabling the group to increase the number of customers at a significantly lower cost per customer;
 
* Online gaming grew by 49 percent and deposits increased by 54 percent;
 
* Restaurant Casino operations increased turnover by 6 percent and EBITDA amounted to SEK 3.9 millions (3.1);
 
* Yggdrasil Gaming grew by 156 percent but EBITDA amounted to SEK -0.4 millions (-1.2); the company also launched its first progressive slot - Joker Millions;
 
* Joint white label SveaCasino.com was launched in early April;
 
Fredrik Burvall, CEO reported to shareholders that the group focus on core business and strategic acquisitions is beginning to show results, overall growth is encouraging, and the company is well-positioned to take advantage of the industry trend toward consolidation.
 
"We’ve seen a strong growth in mobile gaming and will continue to improve our mobile offerings," Burvall noted, adding that during the first quarter the company’s Yggdrasil subsidiary has increased its revenues by 156 percent and has signed three new contracts with customers such as the AIM-listed GVC.
 
"Yggdrasil has also decided to release all of its games on the new platform; the HTML5-based iSense 2.0, making it possible to release games simultaneously on computer, tablet and mobile. This means that operators have greater ability to reach their players with marketing campaigns," Burvall revealed.
 
The executive again raised the issue of a need for a fresh approach in the Swedish market, commenting:
 
"Sweden has rightfully been taken to the European Court after having, for too long, delayed a re-regulation. We are now heading towards the fourth gaming investigation since 2000. We look forward to a gaming market that is open for everyone, with transparent and responsible operators. We want to eliminate the anachronistic and broken down gaming monopoly. We want to create more jobs in Sweden and compete in fair conditions."



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Oink Country Love Slot Launches - Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

Sensational Sixes Slot Goes Live - Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!

3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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