Cherry expands with Betman deal
Cherry has agreed to acquire the casino agreements, casino staff and equipment from Swedish operator Betman.
The agreement, which includes a maximum additional purchase price, amounts to SEK3.9 million (€407,600/$455,200), with Cherry expecting the acquisition to generate return on investment within less than two years.
The deal is also expected to contribute SEK11 million in revenue and earnings before interest, tax, depreciation and amortisation of SEK2 million.
Betman operates restaurant casino services in 15 venues in Stockholm, Sälen and Visby.
Fredrik Burvall, chief executive of Cherry, said: “The acquisition of Betman means that we further solidify our leadership position in the restaurant casino market.
“It further strengthens our position in Stockholm, Sälen and Visby and adds qualified personnel, while we can use our scale advantage to help the venues perform even better.”
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