PlayCherry Ltd., subsidiary of online gambling business Cherry iGaming, has been given the green light by the UK Gambling Commission to provide iGaming options to local players. Having obtained the gaming operators license, the company will now launch both sports betting and casino brands in UK’s regulated online gambling market.
This latest announcement comes as part of Cherry iGaming’s strategy to expand into new regulated jurisdictions. The online gambling operator will use its brands to reap benefits from the UK market, known to be among the largest regulated ones in the world. Cherry iGaming said in a statement from earlier today that its flagship CherryCasino brand will be the first one to go live for UK-based gambling customers. EuroSlots, a recently-relaunched white-label gaming website, will also be rolled out in the UK shortly after. Sunmaker, an iGaming brand that has always been quite popular with international players, will be the third one to be launched into the UK gaming market.
Commenting on today’s news, Cherry iGaming CEO Jonas Wåhlander, said that they have made another important step towards the company’s further growth and development. The executive also noted that the gambling operator’s diverse gaming portfolio covers all core customer segments in the UK market and includes equally engaging products for different player types.According to Mr. Wåhlander, Cherry iGaming will enjoy a positive entrance into the local market, supported by the company’s expertize and industry insight as well as the experience of the newly acquired ComeOn gaming business.
PlayCherry Ltd. is a wholly owned subsidiary of Cherry iGaming. The latter company is known to be the iGaming division of major Swedish gambling group Cherry AB. Apart from the recently granted UK gambling license, Cherry iGaming also holds licenses by the Malta, Curaçao, and Schleswig-Holstein gaming authorities.
Founded in 1963, Cherry AB has been providing different types of land-based and online gambling operations to customers from a number of European jurisdictions. The company reported its quarterly results earlier this week. Revenue for the three months ended September 30, 2016 increased 39% year-on-year to SEK214 million. The company hailed its online division’s performance, with revenue from iGaming operations growing 39% from the same quarter of the previous year. Group EBITDA amounted to SEK30.9 million, reflecting a 78% increase from the third quarter of 2015.