Cherry eyes further international expansion following UK licence success
CEO Fredrik Burvall says Netherlands also on the list as it looks to boost European reach
Cherry said it is pressing ahead with its European expansion plans after being granted a UK licence from the Gambling Commission for its online brands.
Cherry iGaming’s UK licence covers both casino and sports betting, initially using its flagship brand CherryCasino.com and relaunched white label site EuroSlots.com, with plans also in place to push its Sunmaker.com brand.
And speaking with EGR, Cherry AB CEO Fredrik Burvall said the company will continue to look into other European markets as part of its growth plans.
“We’re looking at re-regulated markets such as the Netherlands, there are other markets in Europe that might also be of interest to us,” said Burvall.
“M&A is part of our strategy to grow both organically and through strategic acquisition.
“We’ll want to get going with the UK push, and of course to continue delivering stable growth.”
Burvall has previously told EGR Cherry will be leaning on its newly-acquired ComeOn business for UK expertise when entering the market.
The company reported a 39% rise in Q3 online gaming revenues earlier this week after the operator benefited from an increase in marketing spend and strong mobile performance.
Burvall said he was “very pleased” with its third quarter results, and estimated the company will continue to grow faster than the market rate.
The CEO added the efforts taken around the acquisition of ComeOn was part of the reasons for the postponement of its listing on Nasdaq Stockholm until H1 2017, but reiterated the company’s ambition for the listing.
“We are fairly advanced in the process but things like this take some time, and it’s not up to us to decide,” said Burvall. “But of course, it’s still a target for the company.”