{"id":7345,"date":"2024-10-29T14:19:36","date_gmt":"2024-10-29T14:19:36","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=7345"},"modified":"2024-10-29T14:19:41","modified_gmt":"2024-10-29T14:19:41","slug":"cherry-ab-explores-potential-sale-of-comeon-gaming","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2024\/10\/29\/cherry-ab-explores-potential-sale-of-comeon-gaming\/","title":{"rendered":"Cherry AB Explores Potential Sale of ComeOn Gaming"},"content":{"rendered":"\n<p><strong>Cherry AB <\/strong>is reportedly shifting towards the sale of its online gambling subsidiary, <strong>ComeOn Gaming.&nbsp;<\/strong><\/p>\n\n\n\n<p>First reported by Reuters, the decision forms a key part of the group\u2019s wider reorganisation strategy as it looks to evolve its offering.&nbsp;<\/p>\n\n\n\n<p>Furthermore, the Swedish heritage gambling group has appointed Moelis and Jefferies to explore sale options for ComeOn.<\/p>\n\n\n\n<p>According to sources, Cherry AB is eyeing around \u20ac500m, nearly doubling the \u20ac<a href=\"https:\/\/sbcnews.co.uk\/igaming\/2018\/12\/18\/gaming-group-cherry-receives-802m-takeover-offer-from-bridgepoint\/\">280<\/a>m it paid for the firm in 2017.&nbsp;<\/p>\n\n\n\n<p>The \u20ac500m sales target is based on a projected 2024 EBITDA of \u20ac60m for ComeOn, which has served as the online gambling arm of Cherry AB in Nordic markets.<\/p>\n\n\n\n<p>Reuters also detailed that Cherry AB is among several European gambling groups considering divesting their consumer-led brands to concentrate on their land-based gambling units and contracts.<\/p>\n\n\n\n<p>The assets of Cherry AB are under review by London private equity firm Bridgepoint, which acquired the Swedish gambling group in 2018 for \u20ac1bn, taking its business into private ownership.<\/p>\n\n\n\n<p>ComeOn CEO <strong>Juergen Reutter<\/strong> has outlined lofty ambitions for the company, as it has sought to expand beyond casino and into the sportsbook vertical.&nbsp;<\/p>\n\n\n\n<p>Outlining the firm\u2019s plans for growth, Rutter previously stated: \u201cOur strategy is to become a tier one operator in the sports market.&nbsp;<\/p>\n\n\n\n<p>\u201cFor us, it\u2019s a key goal because we are very dominant in the casino market, where we have significant market shares in our territories. But when it comes to sports betting, we are underrepresented.&nbsp;<\/p>\n\n\n\n<p>\u201cWe are running at around 15% of our revenues from our sportsbook, but we believe our fair share, the fair share of the sports-led operator, lies at 30-35% and above. So we are here to double our sportsbook business in the next three years.\u201d<\/p>\n\n\n\n<p>He added: \u201cWe can only achieve that through the investment we have now made in product, platform and people to unlock that growth, and follow up on our strategy to become a tier one sportsbook operator.\u201d<\/p>\n\n\n\n<p>Don&#8217;t forget to subscribe to our <a href=\"https:\/\/t.me\/sbceurasia\">Telegram channel<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cherry AB is reportedly shifting towards the sale of its online gambling subsidiary, ComeOn Gaming.&nbsp; First reported by Reuters, the decision forms a key part of the group\u2019s wider reorganisation strategy as it looks to evolve its offering.&nbsp; Furthermore, the Swedish heritage gambling group has appointed Moelis and Jefferies to explore sale options for ComeOn. [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":7346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[7,1],"tags":[10267,10266,10268],"class_list":["post-7345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-igaming","category-news","tag-cherry-ab","tag-comeon-gaming","tag-juergen-reutter"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cherry AB Explores Potential Sale of ComeOn Gaming - SBC EURASIA EN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2024\/10\/29\/cherry-ab-explores-potential-sale-of-comeon-gaming\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cherry AB Explores Potential Sale of ComeOn Gaming - SBC EURASIA EN\" \/>\n<meta property=\"og:description\" content=\"Cherry AB is reportedly shifting towards the sale of its online gambling subsidiary, ComeOn Gaming.&nbsp; First reported by Reuters, the decision forms a key part of the group\u2019s wider reorganisation strategy as it looks to evolve its offering.&nbsp; Furthermore, the Swedish heritage gambling group has appointed Moelis and Jefferies to explore sale options for ComeOn. 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