Buoyed Cherry sets ambitious target to become Nordic market leader
Newly-installed CEO Anders Holmgren says operator is working hard to become number one player in the region following a strong set of financial results
Cherry CEO Anders Holmgren
Newly-appointed Cherry CEO Anders Holmgren has set the ambitious target of making the operator the number one player in the Nordics following a strong set of financial results.
Speaking with EGR Intel, the Betsson co-founder said he is “extremely happy” with Cherry’s current performance, which saw online revenues increase 150% to SEK830.5m (£76.2m) for 2016.
Holmgren also hailed the “smooth integration” of ComeOn into its iGaming division, with inclusion of the sportsbook operator’s figures for the first time helping Cherry’s Q4 online revenues increase 294% year-on-year to SEK440.8m (£39.5m).
Buoyed by its strong financial results, Holmgren has set the target of Cherry becoming the number one player in the Nordics as it looks to continue with its recent growth.
“From a Nordic perspective, I would say that we’re number three in the market if you measure the size of the business,” said Holmgren.
“We’re definitely working to be number one in the market in due course. Together with all the other areas of the business that we have within the company, I think we could be.
“We will continue with what we have done so far and that is to grow organically and through acquisitions, which is for all parts of the business.”
Holmgren added the switch of listing to NASDAQ Stockholm, which the company aims to have completed during H1, will play an important part in the operator’s growth strategy.
“Not only will it be able to attract institutional investors so we can be active in the M&A market, we are also aiming to be one of the big players in this industry.
“We are going to grow, and the listing will go hand-in-hand with our strategy to finance ourselves in the best possible way.”