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Cherry Group secures 51 percent stake in Game Lounge affiliate business

Thursday January 29,2015 : CHERRY GROUP ENTERS AFFILIATE SECTOR
 
Swedish online gambling operator secures 51 percent stake in Game Lounge affiliate business.
 
The Swedish online gambling group Cherry has entered the affiliate sector of the industry after acquiring a 51 percent stake in affiliate management business Game Lounge Limited.
 
The deal is expected to widen white label provision opportunities for Cherry using the affiliate firm, with Svea Casino.com an early possibility.
 
A Cherry spokesman said that Cherry expects the acquisition to help it increase volumes quickly on current brands and through future white label partnerships, as well as acquiring more customers at a significantly lower cost.
 
It is also expected to increase both Cherry’s revenues and EBIT in the next three years and bring in more than 40,000 new depositing customers, he said.
 
The consideration paid by Cherry for its stake in the affiliate operation is Euro 1.43 million in cash, and an additional, condition-based, purchase price of up to Euro 2 million to be paid, at the earliest, 13 months after the acquisition where Cherry has the option to pay through shares or cash.
 
There will be an option for Cherry to acquire 100 percent of the business after three years.
 
Fredrik Burvall, CEO Cherry, commented in a company statement on the agreement:
 
"The acquisition of Game Lounge is a significant development for Cherry as we enter into our first white label agreement and give Cherry a stronger position in the affiliate sector.
 
"It has the potential to increase volumes at a much lower cost, both for Cherry’s current brands and the white label brands. The affiliate market is an important part of the online gaming industry and Cherry continues to strengthen its online business with this acquisition.
 
“Acquiring a profitable affiliate operation with a team highly skilled in search-engine optimization (SEO) and affiliation will also enable our brands to get strong positions on other affiliate sites and search engines."
 
Game Lodge CEO Jonas Cederholm, CEO Game Lounge, said "We know from working with Cherry that we will be able to launch SveaCasino.com as a top casino on desktop, mobile and tablet on one of the best platforms in the industry. Our strength within SEO and affiliation and Cherry’s long experience with running online casinos is a good match which will enable us to grow further both within affiliation and through white labels.”



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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