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Cherry AB Purchases Larger Stake In Game Lounge Ltd.
Cherry AB, an online casino conglomerate with holdings spanning affiliate marketing, game development, and online casino operation has announced it will acquire an additional 44% stake in Game Lounge Ltd.
Cherry AB had already purchased a 51% stake in Game Lounge in 2015. Its decision to purchase this additional percentage of the company comes on the heels of consistent performances that either met or exceeded expectations.
Future Growth Still Anticipated
Despite the solid performance that led to the purchase, Cherry still believes Game Lounge’s best days are in front of it.
At a time when online casino affiliates around the world have been facing a whole slew of challenges, working with successful ones can not only be profitable in its own right, but also an invaluable asset for boosting the performance of other Cherry AB divisions.
“Game Lounge holds a strong position in a growing market. In the third quarter 2017, Game Lounge continued to grow, [and its] business model is remarkably scalable, the company has unique capabilities in search-engine optimization (SEO) and is the recognized standard in affiliation within the gaming industry and we see great potential to expand the scope of the business,” said Cherry AB’s CEO, Anders Holmgren.
Cherry One Of World’s Largest Online Casino Companies
The acquisition of yet another huge property makes Cherry AB one of the most prolific actors in the online casino industry.
It already owns several of the most popular online casino domain names both in Canada and abroad, not the least of which is its flagship CherryCasino.com site. On the development side, it’s also the controlling entity behind the wildly successful Yggdrasil line of online casino games. Now, online casino marketing can be added to that list of interests.
Cherry’s Q3 2017 financial results showed a 180% year over year increase, with revenues rising to around $6m. With this new acquisition leading the way, it’s easy to see why analysts are optimistic that about the company’s fortunes heading into the new year.