Online Casino Transfer: News - Cherryforetagen to go Online

02/08/2010		Online Casino Style: News Cherryforetagen to go Online
Home History Games News Dictionary		The news of the American online gambling industry in 2009 was the launch of internet casino interests made by Harrah’s the leader in land-based casino brands, especially in Las Vegas. A similar strategy is being developed by Cherryforetagen, the land-based company of the Swedish gambling firm Cherry, which is said to be developing a plan that will include online gambling operations, making the best use of their recent acquisition of Coys, known for their success in the Scandinavian online gambling market. While Cherry isn’t nearly as well known as its brothers in the industry Betsson and Net Entertainment, they apparently intend to change that reality this year. But this year’s ambitions to grow into the online gambling scene are not their first ventures, as they launched PlayCherry.com in February of 2008. The website will be now integrated into the playing platforms acquired through their deal with Coys. "This is a strategically important acquisition which gives Cherry access to established brands in online gaming and enables it to reach critical mass,” said the chief executive officer for Cherryforetagen, Gunnar Lind. "We see great opportunities for continued expansion in both existing and new geographic markets. From a long-term perspective, we feel that physical games and online games will be linked together, creating new opportunities."ť The new venture under the Coys brand name will result in a number of changes, but both Coy owners Morten Klein and Lorang Andreassen are to be kept in management. The deal was struck with an initial cash payment of SEK 50 million, followed by payment in Cherryforetagen AB shares for 6.8 million shares. Another SEK 10 million will be paid in deferred payments over the next three years.

02/08/2010

Online Casino Style: News
Cherryforetagen to go Online

The news of the American online gambling industry in 2009 was the launch of internet casino interests made by Harrah’s the leader in land-based casino brands, especially in Las Vegas. A similar strategy is being developed by Cherryforetagen, the land-based company of the Swedish gambling firm Cherry, which is said to be developing a plan that will include online gambling operations, making the best use of their recent acquisition of Coys, known for their success in the Scandinavian online gambling market.

While Cherry isn’t nearly as well known as its brothers in the industry Betsson and Net Entertainment, they apparently intend to change that reality this year. But this year’s ambitions to grow into the online gambling scene are not their first ventures, as they launched PlayCherry.com in February of 2008. The website will be now integrated into the playing platforms acquired through their deal with Coys.

"This is a strategically important acquisition which gives Cherry access to established brands in online gaming and enables it to reach critical mass,” said the chief executive officer for Cherryforetagen, Gunnar Lind. "We see great opportunities for continued expansion in both existing and new geographic markets. From a long-term perspective, we feel that physical games and online games will be linked together, creating new opportunities."ť

The new venture under the Coys brand name will result in a number of changes, but both Coy owners Morten Klein and Lorang Andreassen are to be kept in management. The deal was struck with an initial cash payment of SEK 50 million, followed by payment in Cherryforetagen AB shares for 6.8 million shares. Another SEK 10 million will be paid in deferred payments over the next three years.