Cherry AB Purchases 100% of Game Lounge

This story was published more than 5 years ago.

Gaming affiliate conglomerate Cherry AB announced that they've purchased the outstanding shares of Game Lounge, giving them complete ownership of the Swedish company.

Cherry had controlled 95% of the company until they finalized the remaining purchase for 260 million SEK ($28.7 million USD). The first 100 million SEK is paid when Cherry gets the shares, with 60 million SEK being paid conditionally on the company's EBITDA for the first half of next year. The third threshold of 100 million SEK comes if Game Lounge's EBITDA exceeds SEK 300 million for consecutive calendar periods between July 1st, 20199 and December 31st, 2021.

The purchase agreement has to be approved of by Cherry's shareholders during a general meeting.

In a press release, Cherry spoke about Game Lounge's performance and the purchase decision, revealing: "The operations in Game Lounge have developed well and Cherry's Board of Directors makes the assessment that the company will continue to enjoy favourable market conditions into the future and that it is therefore desirable to increase Cherry's holding to 100 percent. The sellers will remain in their senior positions, are shareholders in Cherry and also participate in incentive program within the Cherry Group. Accordingly, the Board of Directors assesses that the terms of the acquisition, including the purchase consideration, are in line with the market and will therefore recommend that Cherry's Annual General Meeting approve the acquisition in accordance with the principal terms above."

About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.
1 reply • Last post


High RollerHigh Roller
coolsongss's picture
Joined: 2 Dec 2014
Posts: 2832
Thanks given: 2119
Thanks received: 1417
24 October 2018 - 4:50pm

Wow, this casino group is getting bigger by adding new brands.
I really wanted to play here, but they didn't accept my address documents so I gave up.

Maybe, I will try it again later 🙂