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Cherry Adds More of a Stake Into Almor Holding

Internet betting firm Cherry AB has announced that they have increased its stake in Almor Holding Ltd to 75% by purchasing an additional 4% of the company for €760,000.

Almor operates German sportsbetting brands Sunmaker, Sunnyplayer, and Kingplayer, and Cherry's decision to increase their stake is due to the company performing above expectations in the first half of this year. It was revealed in a trading update that turnover for the first half was €7.2 million, while profits were €1 million.

Should they opt to, Cherry has the option to purchase the remaining 25% of the company in the next four and a half years, paying a price of EBIT multiplied by 5.

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