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The affiliate company Game Lounge, a subsidiary of Cherry AB (publ) (Cherry) – STO: CHER-B.ST – will establish operations in New Jersey, US, following the acquisition of the premium domain name BetNJ.com, targeting sports betting and casino in the state. In addition, Game Lounge has acquired the Mexican domain OnlineCasino.mx.
Game Lounge continues its strategy to complement the organic expansion of the business with targeted acquisitions. With the acquisition of BetNJ.com, the company will establish operations within the regulated market in New Jersey, US. The website OnlineCasino.mx will become a strong foothold for the large Mexican gaming market, which is valued at around 850 million euros by the independent data specialist H2 Gambling Capital.
Jonas Cederholm, CEO of Game Lounge said:
“Both of these premium domains are well placed, and are extremely intuitive. We foresee great opportunities to use these domains for our continued efforts in North America. In the United States, the Supreme Court has repealed PASPA, thus opening up a huge market for sports betting. The driving force is New Jersey, and the state has now legalised betting on sports and we see great opportunities to expand our model to help players find the game options that will be offered to customers in states that already have laws in place. The proposed regulation of the Mexican gaming market makes us positive about our opportunities to take a strong position in a new market for us.”
The sites will be launched in the third quarter of 2018
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CHERRY IN BRIEF
Cherry is an innovative and fast-growing company within gaming, entertainment and media. Established in 1963, today Cherry operates through five diversified business areas: Online Gaming, Game Development, Online Marketing, Gaming Technology, and Restaurant Casino. The Group’s objective is to grow organically in combination with strategic acquisitions of fast-growing companies. Cherry employs some 1,400 people and has about 6,700 shareholders. The Company’s class B share is listed on the Nasdaq Stockholm exchange, Mid Cap segment. More information is available at www.cherry.se
Source: European Gaming Industry News