Cherry AB (publ) – STO: CHER-B.ST – has today received confirmation that all of its licence applications for online gaming and betting have been approved by the Swedish Gambling Authority. Effective from 1 January 2019, eight brands within the Online Gaming business area will be able to offer games and betting in the Swedish market.
“Although, the licence applications have involved a considerable amount of work, we are convinced that the Swedish regulations provide better conditions for gaming operators, our customers as well as for us as a company and therefore also for our shareholders. Sweden is an important market and we intend to continue growing from our already strong position,” says Gunnar Lind, President and CEO of Cherry.
“ComeOn offers games to customers under various brands and we have chosen to apply for licences for our companies operating brands targeting the Swedish market,” says Lahcene Merzoug, Business Area Manager and President of ComeOn. “ComeOn currently holds gaming licences in several European countries and is therefore experienced in conducting operations in line with the Swedish requirements.”
In addition to its online casino operations, Cherry is one of a small number of operators currently offering land-based commercial gaming in Sweden. Cherry’s Restaurant Casino business area has been subject to permitting since inception in 1963 and, with a re-regulated Swedish gaming market, Cherry Spelglädje will be able to raise its stakes in table, card and dice games and to further expand its offering. Cherry Spelglädje has submitted more than 270 licence applications for land-based commercial gaming to the Swedish Gambling Authority, enabling it to replace its current gaming permits in the new year. Each licence is for a gaming venue, that is, premises in which gaming is arranged by Cherry Spelglädje.
The trademarks that have been granted licences for online gaming and betting commencing 1 January 2019 are: Casinostugan, Cherry Casino, ComeOn, Hajper, Mobilautomaten, Snabbare and two partner brands.
For further information, please contact:
Gunnar Lind, Acting President and CEO, [email protected]
Christine Rankin, CFO, Tel.: +46 765 399 492, [email protected]
Anders Antonsson, IR & Communications: +46 709 994 970, [email protected]
This information is such that Cherry AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication under the auspices of the contacts detailed above on 17 October 2018, at 3:50 p.m. CET.
CHERRY IN BRIEF
Cherry is an innovative and fast-growing gaming company with operations in gaming, media and entertainment. The company was founded in 1963 and today, Cherry operates through five diversified business areas: Online Gaming, Game Development, Online Marketing, Gaming Technology, and Restaurant Casino. The Group’s objective is to grow organically in combination with strategic acquisitions of fast-growing companies. Cherry employs some 1,400 people and has about 9,250 shareholders. The company’s class B share is listed on the Nasdaq Stockholm exchange, Mid Cap segment. More information is available at www.cherry.se.
