Cherry eyes further mobile growth

Operator sees 72% increase in activity from mobile devices during Q2

 

Cherry recorded a 113% year-on-year rise in online revenues for the second quarter of this year and saw its mobile division grow by 72% YoY during the period.

Revenues for the period ending 30 June 2016 amounted to SEK 139.2m (£12.5m), up from the SEK 65.5m (£5.9m) total the firm posted in the same period last year.

The online arm also made a profit during the quarter, with EDITDA amounting to SEK 8.6m (£770,000) after previously making a SEK 2.3m loss in Q2 2016.

Gaming surplus from mobile devices increased by 72% during the quarter, with the channel amounting to 42% of Cherry’s online total gross game win.

And speaking to EGR Mobile Intelligence, Cherry CEO Fredrik Burvall said the operator is eyeing further growth from its mobile channel.

“The mobile revenues are growing and we expect it to continue to grow,” said Burvall.

“We can always do better of course, but we increased the mobile share to 72% during the quarter.

“We have a good mobile solution, and if you look at casino-focused operators we’re doing okay, but compared to other operators with a priority on sports betting which tends to be more mobile focused, we don’t have as high mobile revenues and it drags down our percentage.”

Burvall added the firm is hopeful of obtaining a UK licence in the coming months, and is also eyeing up moves into the Netherlands and Asia market.