A subsidiary of Cherry iGaming, PlayCherry Ltd., has been granted the coveted UK gambling license, enabling them to offer their gaming solutions to the UK-based players. Following on approval by the United Kingdom Gambling Commission (UKGC), PlayCherry will now enter the regulated UK gaming market with their online casino and sports betting offering.
Expansion as the Key Strategy
For Cherry iGaming, expansion to new markets is the key to success. Their successful move to acquire the UK license gives them access to a very attractive pool of players, which is certain to have a positive effect on the entire company’s business.
The company doesn’t plan to stop with CherryCasino. As the leading brand, they will be the first to enter the market but will be followed shortly by EuroSlots and Sunmaker. Both of these brands have had great success with international players and are expected do equally well with players from the United Kingdom.
Catering to all Player Types
In the PR accompanying the news, Jonas Wåhlander, the CEO of Cherry iGaming, expressed his belief that the company offers a truly diverse game portfolio that should be appealing to all sorts of players in the UK. The company’s reputation, coupled with their experience and expertise, are a guarantee of a successful entry into the market.
The company holds several other major licenses, enabling them to offer their products to players all over the globe. These include Malta Gaming Authority, the Government of Curacao, and Schleswig-Holstein license.
Long Market Presence
The mother company of Cherry iGaming, Cherry AB, is a big Swedish gambling group that’s been in existence since 1963. Initially focused on the land based casino business, the group moved into the realm of online gaming as soon as an opportunity presented itself.
Recently, the company has been recording astonishing growth, thanks to their constant efforts to improve their services and enter new markets. According to the latest released numbers, they’ve experienced 39% increase in revenue.
The iGaming division of the company played a major role in this increase, as this sector alone recorded the 39% growth as well. Compared to the last year, the overall group’s EBITDA rose 78 %, totaling SEK30.9 million. Cherry AB, with all of its segments and divisions, is on the clear path to claiming their rightful place in the global online gaming market, and if they continue at the same speed, they could easily claim their spot among the global industry leaders.