Cherry AB Shows Positive Year End 2015 Report

Cherry AB Shows Positive Year End 2015 Report

With group revenue up by 72%, Cherry AB has shown a positive year end 2015 report. The Cherry AB group has shown profit increases and strong revenues in all areas of business.

Cherry AB Companies Increase Profits and Productivity

Cherry AB’s group turnover was up by 56% when compared to 2014’s figures. Turnover reached SEK 528.7 million. Sixty-nine percent of the company’s group revenue come from its online interests. Profitability has increased, and online gaming has grown by 91% in the past year. Yggdrasil Gaming showed astounding growth of 357%. The operator’s Restaurant Casino also showed profits with turnover increased by 9%.

In 2015, Cherry AB acquired Almor, NorgesSpill.com, and Game Lounge. In addition to this, Cherry AB acquired the domains and agreements of Moorgate Media Ltd, a leading Finnish affiliate.

Cherry won the Online Gaming Operator of the Year award at the International Gaming Awards. This was the third year in a row that Cherry won this award.

Cherry’s Chief Executive Officer, Fredrik Burvall, commented: “Cherry's Online Gaming business achieved very strong growth of 109 percent and substantially improved earnings for the period. The activity on our gaming sites increased substantially and the number of active players increased by 219 percent compared with Q4 2014.”

Cherry Casino offers players a large number of NetEnt games. The company has applied to list its shares on the NASDAQ Stockholm. It is expected that Cherry AB will be listed this year.

Looking Ahead

Swedish gaming laws are currently being discussed, and Cherry has been invited to participate in the discussions in order to assist the reference group that are looking at Swedish gaming legislation. As the only private gaming operator invited to participate in the discussion regarding legislation, Cherry hopes to help ensure that the Swedish gaming market will be responsible, help to create jobs, encourage fair competition, and retain transparency.

The Cherry AB Annual General Meeting is set for Thursday, May 12th, 2016 in Stockholm. Shareholders that wish to attend the Annual General Meeting need to make sure that they have notified Cherry by May 10th, and must ensure that they are recorded and registered in the Euroclear Sweden AB share database by May 6th. The company’s official 2015 Annual Report will be published on or before April 20th, 2016.

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