Majority of Yggdrasil Gaming Goes to Cherry Group

This week, the Cherry Group confirmed an agreement made at the ICE show earlier this year between PlayCherry Ltd and online games provider Yggdrasil Gaming, which calls for the provision of 19 games and thanks to which Cherry has also, through its subsidiary Cherry Malta Ltd, inked an agreement on the financing of Yggdrasil, thus becoming the majority owner of Yggdrasil Gaming Ltd, which offers a wide range of lottery games, including 3DKeno and scratch cards.

However, despite the financial investment, it is expected that Cherry's results for the full year 2013 remain unaffected, while sales are expected to increase.

Regarding the deal, Cherry CEO Emil Sunvisson said: "We are very impressed with the product portfolio that Yggdrasil has developed in a relatively short period, and we believe this will strengthen Cherry's online offering.

"Yggdrasil will continue to operate as an independent company led by founder Fredrik Elmqvist. As a financial investor we hope that this investment will generate good returns for our shareholders."

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