Cherry Group Increases Holding In German Online Gambling Firm

CHERRY GROUP INCREASES HOLDING IN GERMAN ONLINE GAMBLING FIRM

09th October, 2015 at 21:07:55
Source: http://www.azonlinecasinos.com

Swedish group takes an additional 4 percent, raising its total stake in Almor to 75 percent.

Swedish online gambling group Cherry is clearly impressed with German-facing online gambling firm Almor Holdings and has increased its shareholding by 4% to a total stake of 75% with a further payment of Euro 760,000.

readers will recall that earlier this year Cherry secured a 71% interest in Almor, which operates the Kingplayer, Sunnyplayer and Sunmaker brands out of Malta, for a consideration of Euro 4.6 million in cash and Cherry shares, with a five-year option to acquire the remaining shares.

Almor posted net revenues of Euro 11.1 million in 2014, achieving an EBITDA of Euro 1.2 million.

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