Connect with us

Press Releases

Cherry Interim Report January–March 2018



Cherry Interim Report January–March 2018
Reading Time: 4 minutes

Strong growth and earnings performance

• Group revenue increased by 26 percent to SEK 681 million (541), with organic revenue growth amounting to 25 percent (44).
• Profitability improved and EBITDA increased by 131 percent to SEK 192 million (83) and the EBITDA margin was 28 percent (15).
• Profit for the period amounted to SEK 89 million (36).
• Earnings per share before and after dilution amounted to SEK 0.96 (0.24) and SEK 0.96 (0.24).
• On 1 January 2018, ComeOn acquired Get Lucky Ltd.
• On 29 January 2018, Game Lounge acquired the website

• On 12 April, Game Lounge acquired the SEO specialist TodaysWeb.
• On 16 April, the owners of Cherry’s senior secured bond loan 2016/2020 of up to EUR 200 million (ISIN SE0008321616), established the proposed Group internal restructuring schedule.
• On 25 April, Lahcene Merzoug was appointed new Managing Director of ComeOn.
• On 26 April, Cherry announced a revised date for its Annual General Meeting: 30 May 2018.
• On 30 April, Cherry called on the option to acquire an additional 7.5 percent of the shares in Almor Holding Ltd, including the brands Sunnyplayer and Sunmaker. Following the acquisition, Cherry holds 90.0 percent of the shares in Almor.

Comments by the CEO

We can look forward to another eventful year

The first quarter of 2018 shows that Cherry’s business model yields good results. Growth continued with increased profitability, and we see good prospects for 2018 becoming a good year for Cherry’s shareholders.

Cherry’s business concept is to create shareholder value by owning and developing fast-growing gaming, entertainment and media companies. In 2017, we have taken steps, large and small, to strengthen existing market positions – at the same time as we have invested in the future. I am proud of the entrepreneurial power of the employees within all of the Group’s companies. This is one of the most important reasons for being able to offer our customers good products as well as for having a stable financial basis for continued development.

The first quarter of 2018 was a good start to the year, and I see good prospects of this year becoming an eventful one. There are ongoing efforts within Cherry’s business areas to launch several new products that we believe will create interest among existing customers. Equally important are the efforts several of the companies are making in new market segments. For our industry as a whole, 2018 will be a year with several significant events. We are seeing ongoing discussions regarding regulation of the gaming market in different countries, legislation that in various ways affects the gaming companies operating in the industry, as well as customer demand and expectations that are changing faster than ever before.


The Group’s revenue in the first quarter of 2018 increased by 26 percent, of which 25 percent was organic growth. EBITDA increased by 131 percent, from SEK 83 million to SEK 192 million. In addition to the continuous work to strengthen profitability, this improvement is mainly due to ongoing efficiency enhancement measures within ComeOn, a company in the business area Online Gaming. The business area’s revenue for the first quarter increased by 18 percent compared with the corresponding quarter in 2017, while earnings improved significantly, from SEK 57 million to SEK 143 million, an increase of 151 percent.

After the end of the period, ComeOn has appointed Lahcene Merzoug new Managing Director. I am pleased that the company has found a strong candidate for this important position and look forward to welcoming Lahcene. I am also glad that the Interim Managing Director, Tomas Johansson, will stay on as advisor to the Cherry Group, supporting Lahcene and the company’s management group as well as contributing to strengthening and broadening Cherry’s position as an innovating and fast-growing company with operations in gaming, entertainment and media.

All companies are developing well, and I particularly want to highlight the turnaround that ComeOn’s new management has accomplished in a short time, as well as Yggdrasil Gaming, which has continuously delivered games and tools that have set the standard, and which all established gaming operators must have in their offering. Yggdrasil had a significant market presence at the industry’s biggest meeting event, ICE, in London, and many took the opportunity to play the company’s new table game in a 3D environment. The third company that is developing particularly strongly is Game Lounge, which has strong organic growth and has made some additional acquisitions, such as and, in April, search engine specialist TodaysWeb.

In the coming months, Highlight Games will launch its game, SOCCERBET, in Italy, which is one of Europe’s largest gaming markets. The game is a sportsbook based on a unique combination of filmed clips from European league football and can be played both online and in game stores, closely approximating the feeling of watching live football matches. We expect the game to reach both existing and new customer categories and to be introduced in additional countries.


With its curiosity and market expertise, Cherry will strengthen and develop its position within gaming, entertainment and media. We want to be the obvious partner for entrepreneurs working in this industry. Cherry can offer a strong platform and support for ideas and products, from start to market launch as well as establishment of a sustainable and long-term business. I look forward to participating in Cherry’s ventures to create many new business opportunities and companies that will continue to lead the development as Cherry has done since its inception in 1963.


The gaming market is currently growing strongly and Cherry estimates that demand in the Group’s largest geographic markets will continue to develop favourably. The Group continuously studies conditions for new business within the related business areas and geographic markets in and outside of Europe.

The Group’s focus is on creating shareholder value by being an active participant in the development of new and existing companies within the gaming, media and entertainment sector. The objective is for the companies to become market leaders in their respective areas by building their core values of entrepreneurship, responsibility and commitment. These are important prerequisites for the Group to be able to achieve its financial targets and to continue its successful profitable growth, through both organic growth and acquisitions, in existing and new verticals, and geographic markets.




Prague Gaming & TECH Summit 2024


Soft2Bet brand CampoBet announced a Redesigned Mobile App



Reading Time: 2 minutes


CampoBet, of the Soft2Bet powered renowned brands, is excited to unveil its revamped mobile application for both iOS and Android users. The new CampoBet SE app offers a native, user-friendly experience with a host of enhanced features and a sleek design that promises to elevate the online betting experience for Sweden players.

Key Advantages of the New CampoBet SE Mobile App:

  • Expanded Reach: The native app serves as an additional platform for CampoBet to engage with a broader audience.
  • Regulated Marketplace: With official reviews from the App Store and Google Play, users can trust the quality and security of the app.
  • Official App Status: The app’s official status ensures there are no bans, providing uninterrupted access to betting services.
  • Native Experience: Users will enjoy a more convenient and faster app performance tailored to their devices.
  • Aesthetic Design: The app features a Trophy Hall with animations and parallax, offering a visually stunning experience.
  • Integrated Tracking: An integrated system for PPC and affiliate traffic allows for efficient ad purchasing from various sources.
  • Optimized Advertising: The app includes a new set of events in the traffic procurement system to fine-tune advertising campaigns.
  • Continuous Support: CampoBet is committed to ongoing support and development of the app to ensure the best user experience.
  • Segmented Notifications: Push notifications are tailored and sent directly to the player’s phone, keeping them informed and engaged.

In a statement, CampoBet representative Yoel Zuckerberg, Chief Product Officer, said, “The CampoBet SE app is a game-changer in the mobile betting landscape. We’ve listened to our users and have delivered an app that not only looks great but also provides the functionality and speed that today’s bettors demand. Our commitment to continuous improvement and user satisfaction is at the core of this redesign.”

The CampoBet SE app is now available for download on the App Store and Google Play. Users can look forward to a seamless betting experience with the reliability and innovation that CampoBet is known for.

Continue Reading





Reading Time: 2 minutes


Christmas came early for some 3,000 locals here during the launch of the Philippine Amusement and Gaming Corporation’s Bawat Buhay Mahalaga Serbisyo Caravan today.

The two-day event at the Bulacan Capitol Gymnasium is inspired by President Ferdinand Marcos Jr.’s pledge to bring government services closer to local communities, according to PAGCOR Chairman and CEO Alejandro H. Tengco.

“Today, Christmas comes early to the people and the province of Bulacan because we will be giving away gifts that will last beyond Christmas – life-changing gifts because they will serve as a new beginning for our people,” he said during the launch.

“Ito ang kauna-unahang caravan na ating inilunsad sa ilalim ng ating pamamahala,” he told the packed crowd at the capitol gymnasium.

PAGCOR has allocated Php50 million for the caravan launch alone. It covers educational grants for 2,000 students, 45 sari-sari store livelihood packages, more than 4,000 bicycle units and Php5 million worth of hospital equipment for the Bulacan Medical Center.



There were also wheelchairs, medicines, food packs as well as reading glasses and canes for senior citizens on top of medical and dental consultations during the two-day event.

Mr. Tengco said the educational grant for 2,000 students will cover both college and technical-vocational students who will each receive Php10,000 every year.

“Isanlibo po sa mga iskolar na ito ay manggagaling sa vocational schools bilang pagpapakita ng ating suporta at pagkilala sa kahalagahan ng vocational and technical education sa pangkalahatang pag-unlad ng ating mga industriya,” he said.

The state gaming agency partnered with the Bulacan Provincial Government, the Armed Forces of the Philippines Health Service Command, National University College of Dentistry, University of the Philippines (UP) Manila Chancellor’s Office and UP Manila Ugnayan ng Pahinungod for the initial caravan.



Bulacan Governor Daniel Fernando, who also graced the event, expressed his gratitude to PAGCOR for choosing the province as the first recipient of the state gaming agency’s service caravan.

“Taos-puso kaming nagpapasalamat sa PAGCOR at kay Chairman Alejandro H. Tengco sa mga handog sa aming lalawigan kabilang na ang mga livelihood packages, scholarship grants, wheelchairs at iba pa.”

After Bulacan, the caravan will go around the country to continue providing essential services, medical assistance and livelihood packages on a quarterly basis as one of PAGCOR’s major corporate social responsibility initiatives.

Continue Reading

Latest News




Reading Time: 2 minutes

Cards are in the air, and the first edition of WSOP Paradise is officially off and running at Atlantis Paradise Island in the Bahamas, marking an exciting new chapter for the richest, most prestigious and longest-running poker series. Festivities officially got underway on Sunday, Dec. 3, with GGPoker Global Ambassador Daniel Negreanu delivering the ceremonial Shuffle Up & Deal for the series kicking off Event #1: Mystery Millions.

With 3,446 entrants and its $5 million guarantee easily met, the Mystery Millions event set the record for the largest live poker event ever hosted in the Bahamas and featured Jeremy Lavi Dan taking home the prized $500,000 bounty.

WSOP Paradise has brought the biggest names in poker to the felt in the Caribbean, including poker legends Daniel Negreanu, Phil Hellmuth and Jamie Gold, in addition to the last three WSOP Main Event World Champions Daniel Weinman, Espen Jørstad, and Koray Aldemir. Familiar faces from the sports world are also in attendance, like 2023 Basketball Hall of Fame inductee Tony Parker, two-time WNBA Champion and Las Vegas Aces’ Head Coach Becky Hammon, Manchester City legend Sergio Agüero, FS1’s Nick Wright, and many more.

Highlights from the action so far include Tony Parker notching his first finish in the money at a WSOP event in Event #4: Mini Main Event No-Limit Hold’em and another guarantee being met of $10 million for Event #3 GGMillion$ High Rollers Championship.

“Poker in paradise is rolling along and WSOP Paradise at Atlantis Paradise Island is already setting records and smashing guarantees,” said World Series of Poker Executive Director Ty Stewart. “The WSOP can celebrate another ‘first’ with the record for the largest live poker event ever put together in the Bahamas. With more action set to unfold in paradise and some of the biggest names from the poker world in attendance, we can’t wait to see what’s in store for the first WSOP Paradise Main Event at Atlantis.”

The action continues this week with Event #5: High Roller Pot-Limit Omaha $25k, which kicks off on Dec. 7 featuring big-name players and a $2 million guarantee. Wall-to-wall coverage of the first WSOP No-Limit Hold’em World Championship in Paradise, better known as the “Main Event,” starts Dec. 9, featuring a massive $15 million guarantee and the highly-coveted WSOP Paradise Main Event bracelet.

The full 2023 WSOP Paradise schedule can be found on their website. Livestreamed coverage for marquee events and the Main Event will be featured on GGPoker’s YouTube channel, and three post-produced TV episodes will air on CBS Sports Network with commentary from legendary poker analysts Lon McEachern and Norman Chad.Twitter

Players should follow @WSOP on X (formerly Twitter) and Instagram or check WSOP .com for event news and updates.

Continue Reading


Get it on Google Play is a premier online platform that serves as a leading information hub for the gaming and gambling industry. This industry-centric media outlet reaches over 200,000 readers monthly, providing them with compelling content, the latest news, and deep-dive insights.

Offering comprehensive coverage on all aspects of the gaming sector, includes online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2023 - European Gaming is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.