Gaming firm Cherry AB has announced that they've signed a purchase agreement with Betman, and will take over the land casino firm that's active throughout Sweden.
The deal will go active beginning October 1st, and will see Cherry maintaining the company's equipment and current staff. Betman is currently operating casinos within 15 restaurants, and has 27 tables working throughout the country. It is expected that the deal will begin generating a profit in two years. Cherry paid a cash consideration of SEK 3.9 million, of which 2.3 million was in cash.
Commenting on the deal Cherry CEO Fredrik Burvall said, "The acquisition of Betman means that we further solidify our leadership position in the restaurant casino market. It further strengthens our position in Stockholm, Sälen and Visby and adds qualified personnel, while we can use our scale advantage to help the venues perform even better."