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CHERRY UPS ITS STAKE IN ALMOR HOLDING
05th October, 2015 at 19:48:46
To 75 percent.
Cherry has increased its 71% stake of Malta-based online casino business Almor Holding Ltd (Almor) by an additional 4% for Euro 760 000.
Almor operates German-facing online casino and sportsbook brands Sunnyplayer, Sunmaker
, and Kingplayer.
Cherry reports that Almor has continued to perform above expectation and during the first half of 2015 turnover amounted to Euro 7.2 Million, while operating profit reached Euro 1 Million.
Cherry's purchase agreement, signed in July 2015, allows it to acquire the remaining 25% within the next four years and five months, based on an operating profit (EBIT) multiple of 5.
Related News Tags: Germany, Cherry
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