Cherry AB reports 104% revenue growth during FY2017
Nordic-focused online gaming provider, Cherry AB, has revealed year-on-year revenue growth of 104% during 2017.
In its full financial report for the year, the gaming company reported revenues of $267,668 during 2017, more than doubling the $130,981 reported during the full-year 2016.
Company EBITDA also registered triple digit growth, rising by 146% from a 2016 high of $20,681 to a 2017 record of $50,990.
A key contributor to this impressive growth was the amount of active customers and deposits, which rose to over 929,900 active customers who deposited a record $653,956 during 2017.
Cherry reported strong revenue growth in all business areas during 2017, revealing double digit year-on-year rises in the areas of game development, online marketing and gaming technology but it was online gaming revenues which led the way in 2017.
Online gaming revenues reported a triple digit rise of 118%, rising from $99,008 in 2016 to a 2017 high of $216,678.
It was a busy 2017 for CherryAB, who acquired fellow gaming firm ComeOn Malta Ltd during Q2, then following this up with a 12.5% acquisition of shares in Highlight Games in Q4.
Shares in the business were also made available for trading on the Nasdaq Stockholm Mid Cap stock exchange during Q4.
Gambling Insider delivers the latest industry news, in-depth features, and operator reviews that you can trust. Our team combines rigorous editorial standards with decades of specialized expertise to ensure accuracy and fairness. We are committed to delivering clear, impartial, and dependable coverage across the global gambling sector.
