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Saturday, 24 June 2017
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cherrynewOnline gaming operator Cherry AB has announced that its PlayCherry Malta Limited subsidiary has invested an undisclosed amount of money in Yggdrasil Gaming Limited to become the Malta-based developer’s majority shareholder. Stockholm-based Cherry operates the NorgesAutomaten.com online gaming site alongside SverigeAutomaten.com and DanmarksAutomaten.com and signed a deal in February that saw it become Yggdrasil Gaming’s first licensee. Cherry stated that Yggdrasil Gaming offers a portfolio lottery titles including three-dimensional keno and scratchcard games for use with desktop, mobile and tablet devices. The company provides support in eleven European languages and can process multiple currencies while it recently applied for a Class Four license from Malta’s Lotteries and Gaming Authority. “We are very impressed with the product portfolio Yggdrasil Gaming in a short time has developed, which will strengthen Cherry’s online offering,” said Emil Sunvisson, Chief Executive Officer for Cherry. “Yggdrasil Gaming will continue to operate as an independent company by the founder Fredrik Elmqvist. As a financial investor we hope that this investment will generate good returns for our shareholders.” Cherry declared that the investment is expected to have a ‘neutral impact’ on its financial results this year while sales are ‘expected to increase’.

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