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CHerryAB will take over Betman AB
CHERRY ADDS TO RESTAURANT CASINO ASSETS
Gambling group will take over Betman AB next month.
Online and land gambling group Cherry AB has announced the addition to its restaurant casino assets of Betway AB with effect from October 1 2016.
The agreement encompasses the acquisition of Betways casino agreements, casino staff and equipment and involved Betways 15 Swedish venues in Stockholm, Sälen and Visby.
The acquisition is expected to contribute SEK 11 million in revenue and a positive EBITDA of SEK 2 million. The purchase price, which includes the maximum additional purchase price, amounts to SEK 3.9 million, and the deal is expected to generate ROI in less than two years.
The consideration is to be paid as SEK 2.3 million in cash on acquisition and the additional purchase price during Q3-2017.
Cherry’s market share of restaurant casino after the acquisition will be approximately 68 percent of the active gaming venues, according to 2016 September statistics from the Swedish Lotteries and Gaming Authority.
Fredrik Burvall, CEO Cherry AB said in a statement announcing the deal Monday:
“The acquisition of Betman means that we further solidify our leadership position in the restaurant casino market. It further strengthens our position in Stockholm, Sälen and Visby and adds qualified personnel, while we can use our scale advantage to help the venues perform even better.”
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MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
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