Cherry Adds More of a Stake Into Almor Holding

This story was published more than 4 years ago.

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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Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.