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Cherry Group Takes Over Yggdrasil
Monday April 15,2013 : CHERRY TAKES OVER YGGDRASIL
Cherry Group now the majority shareholder in games provider.
An agreement made at the ICE show earlier this year between PlayCherry Ltd and online games provider Yggdrasil Gaming was confirmed by the Cherry Group Monday, revealing that the initial agreement calls for the provision of 19 games.
Cherry's Maltese subsidiary PlayCherry Ltd is the first operator to sign an agreement with Yggdrasil, and Cherry has also, through its subsidiary Cherry Malta Ltd, signed an agreement on the financing of Yggdrasil, and is thereby now the majority owner of Yggdrasil Gaming Ltd.
Yggdrasil Gaming is a game deveopment start-up founded by industry veteran Fredrik Elmqvist. With its concept of "NUMB3RS L0V3RS" the company offers a wide range of lottery games, including 3DKeno and scratch cards for both casual players and high rollers.
The games are available both on PC, mobile and tablet devices, and the company offers support for 11 European languages and multiple currencies. Yggdrasil has ambitions to provide its portfolio of games to gaming operators with a focus on Europe, and has applied for a Class 4 license from the LGA in Malta.
The financial investment is expected to have a neutral impact on Cherry's results for the full year 2013, while sales are expected to increase.
Emil Sunvisson, CEO Cherry, said Monday: "We are very impressed with the product portfolio that Yggdrasil has developed in a relatively short period, and we believe this will strengthen Cherry's online offering.
"Yggdrasil will continue to operate as an independent company led by founder Fredrik Elmqvist. As a financial investor we hope that this investment will generate good returns for our shareholders."
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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