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Jul 20, 2018  

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With the new gambling laws now in place in Poland, it’s thought that this will present fresh opportunities for international operators who are seeking a regulated environment to set up their activities. Cherry AB has also been obtaining gambling licenses in other jurisdictions. In 2016, a subsidiary of Cherry AB, PlayCherry LTD, received a casino and sports betting license from the UK’s Gambling Commission (UKGC). That allowed the gaming operator to roll out its Cherry, Euroslots, and Sunmaker brands for UK customers. It also signaled an important step for the company’s growth, adding on to its Curaçao, Malta, and Schleswig-Holstein licenses. In addition to expanding into other countries, the Swedish gambling operator revealed last year that it acquired the full shares of Malta-based online gambling operator ComeOn. It had initially acquired 49% in 2016, with the option of purchasing the remaining 51%. The shares cost €280m ($274m; $326m), according to a report from SBC News . In 2017, Cherry AB’s revenue amounted to around SEK 2,200m (£189m; $251m), with a profit of SEK 400m (£ 34.4m; $45.6m). At the beginning of the year, Anders Holmgren, former CEO of Cherry AB, said in an announcement : “The end of the year developed according to our expectations with all companies showing good growth in sales and earnings. In addition, ComeOn’s new management has implemented measures that, in a very short time, reversed the negative trend we saw in the middle of the year.” In May, it was announced that Holmgren was under investigation by the Swedish Economic Crime Authority (SECA) for allegedly being involved in insider trading.

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