{"id":29981,"date":"2016-09-19T08:58:35","date_gmt":"2016-09-19T08:58:35","guid":{"rendered":"http:\/\/www.gaming-awards.com\/NEWS\/?p=29981"},"modified":"2016-09-19T08:58:35","modified_gmt":"2016-09-19T08:58:35","slug":"cherry-acquires-betman","status":"publish","type":"post","link":"https:\/\/gaming-awards.com\/NEWS\/cherry-acquires-betman\/","title":{"rendered":"Cherry acquires Betman"},"content":{"rendered":"<p><b><span class=\"font\" style=\"font-family: 'Calibri',sans-serif;\"><span class=\"size\"><a href=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2014\/12\/cherry-logo.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-26210\" src=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2014\/12\/cherry-logo.png\" alt=\"cherry logo\" width=\"233\" height=\"72\" \/><\/a>Cherry has agreed to acquire the casino agreements, casino staff and equipment from Betman AB as of October 1 2016.\u00a0 Betman operates restaurant casino in 15 venues with 27 gaming tables in Stockholm, S\u00e4len and Visby.<\/span><\/span><\/b><b><\/b><\/p>\n<p><span class=\"font\" style=\"font-family: 'Calibri',sans-serif;\"><span class=\"size\">The acquisition is expected to contribute MSEK 11.0 in revenue and a positive EBITDA of MSEK 2.0. The purchase price, which includes the maximum additional purchase price, amounts to MSEK 3.9. The deal is expected to generate ROI in less than two years. MSEK 2.3 is paid in cash on acquisition and the additional purchase price will be paid during quarter 3 2017. <\/span><\/span><\/p>\n<p><span class=\"font\" style=\"font-family: 'Calibri',sans-serif;\"><span class=\"size\">Cherry\u2019s market share of restaurant casino after the acquisition will be approximately 68 percent of the active gaming venues, according to the 2016 September statistics from the Swedish Lotteries and Gaming Authority.<\/span><\/span><\/p>\n<p><span class=\"font\" style=\"font-family: 'Calibri',sans-serif;\"><span class=\"size\">Fredrik Burvall, CEO Cherry AB (publ), comments:<i><span class=\"font\" style=\"font-family: 'Calibri',sans-serif;\"> \u201cThe acquisition of Betman means that we further solidify our leadership position in the restaurant casino market. It further strengthens our position in Stockholm, S\u00e4len and Visby and adds qualified personnel, while we can use our scale advantage to help the venues perform even better.\u201d<\/span><\/i><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cherry has agreed to acquire the casino agreements, casino staff and equipment from Betman AB as of October 1 2016.\u00a0 Betman operates restaurant casino in 15 venues with 27 gaming tables in Stockholm, S\u00e4len and Visby. The acquisition is expected to contribute MSEK 11.0 in revenue and a positive EBITDA of MSEK 2.0. The purchase [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":26048,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,2,11,8],"tags":[],"class_list":["post-29981","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-europe","category-gaming","category-headlines","category-latest"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cherry acquires Betman - iGaming Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gaming-awards.com\/NEWS\/cherry-acquires-betman\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cherry acquires Betman - iGaming Post\" \/>\n<meta property=\"og:description\" content=\"Cherry has agreed to acquire the casino agreements, casino staff and equipment from Betman AB as of October 1 2016.\u00a0 Betman operates restaurant casino in 15 venues with 27 gaming tables in Stockholm, S\u00e4len and Visby. The acquisition is expected to contribute MSEK 11.0 in revenue and a positive EBITDA of MSEK 2.0. 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