Published
OnlineCasinoMergers & Acquisitions

Cherry AB increases its stake in Almor

Online gaming company Cherry AB has announced a decision to acquire an additional 7.5% share in Maltese company Almor Holding Limited, for a fee of $4.85m.

cherryabsharespike

Cherry Ab have confirmed the additional share purchase was made due to ‘continued favourable development of Almor’s group of brands’ and will be paid for by a combination of equal portions cash and newly issued shares in Cherry AB.

Almor is an online operator offering casino and sportsbook in primarily German-speaking countries.

Cherry’s current holding in Almor amounts to 82.5% and will amount to 90.0% following the completion of the additional purchase.

The company holds the right to utilise its option to buy the remaining shares in Almor in the first six months of 2019.

This option to acquire additional shares is based on a multiple of five times EBIT, calculated as an average of the years 2017 and 2018. 


Casino News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Nederlandse Loterij
Relax Gaming
Hoiana Resort & Golf
Tipico
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...