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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.”



Gambling News :

ACR $15 Million OSS Cub3d - Americas CardRoom immensely popular OSS Cub3d returns February 25th and it's bigger than ever. U.S. Online Poker players will have a chance to compete for $15 Million in guaranteed prize pools.

AIGF and Betradar formalised their relationship - At this yearís ICE Total Gaming, the All India Gaming Federation (AIGF) and Betradar formalised their relationship, committing to understand, explore opportunities and network across India around sports betting and gaming.

Lionís Roar Slot Pays Progressive at Ignition Casino - Ignition Casino saw a major win in one of their lion-themed slots last week. The recipient was a California slot player named Amber S.

EHF and Sportradar Extend Partnership - The EHF is responsible for a wide range of activities including the promotion and development of the sport, education programmes, player transfers and the organisation of high-profile sports competitions and events including the EHF EURO and the EHF Champions League.

Swisslos and Betradar in Deal - Swisslos offers lotteries, sport bets and instant tickets in the entire territory of German-speaking Switzerland, in Ticino and in the Principality of Liechtenstein. It structures its range of games in an attractive and responsible manner. Swisslos transfers it entire net profit to the mandating cantons and the Principality of Liechtenstein to support public causes.

World Snooker and Sportradar extend partnership - Extending a relationship that started in 2010, World Snooker is delighted to announce the renewal of their official data partnership with Sportradar.

Americas Cardroom offering mouth-watering value - It's not every day that an industry-leading poker site offers its customers an opportunity to put the house's money directly into their own pockets, but that's exactly whatís happening at Americas Cardroom.

Coolbet Joins Mpn - Coolbet, owned by the Estonian company StayCool OU, is a sportsbook driven brand with its own developed platform and sports software. In addition to sports, it offers casino and live casino gaming, and as of this week, poker.

RMG AND SIS EXTEND PARTNERSHIP - RMG manages the rights of many of the leading British racecourses, while SIS holds the horseracing rights to all Irish racecourses, plus Chelmsford City Racecourse in the UK.

Novomatic and Betradar in Deal - With ICE just a few days away, NOVOMATIC has announced a partnership with leading sports betting solutions provider Sportradar to develop an innovative line of sports betting products and services.

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