Yggdrasil to enter Spain with leading operator GVC

Yggdrasil Gaming, a Cherry AB (publ) – STO: CHER-B.ST – subsidiary, is to enter the Spanish igaming market after reaching an agreement with existing partner GVC. GVC will be the first operator to offer Yggdrasil titles, and is expected to go live in the market during Q2 2018, in full compliance with Spanish requirements. 

The Spanish online gaming market has enjoyed impressive growth in recent years, particularly since it added slots to its offering in 2015. According to regulator Dirección General de Ordenación del Juego (DGOJ), online gaming revenues were up 37 percent year-on-year for Q3 2017, to EUR 140.5 million.

Yggdrasil CEO Fredrik Elmqvist, said:
“Spain has quickly emerged as one of Europe’s fastest-growing and exciting jurisdictions, making it a perfect environment for Yggdrasil’s award-winning slots and promotional tools. To enter Spain with GVC, a long-time partner across multiple jurisdictions, will ensure our games are enjoyed by slots fans across the country. Following recent entries into Denmark and Italy, it also underlines Yggdrasil’s commitment to expanding its footprint in Europe’s regulated markets.”

Andy Whitworth, GVC’s Head of Content and Commercial said:
“Our aim is to offer content from our best suppliers in all of our markets. Yggdrasil’s slots have already proved to be hugely popular with our players elsewhere, so we are delighted to be the first operator to bring that award-winning content to Spain. ¡Vamos a jugar!”.

For further information, please contact:

Fredrik Elmqvist, CEO Yggdrasil, +356 99 62 51 04, fredrik@yggdrasilgaming.com
Anders Antonsson, IR & Communications, tel. +46 709 994 970, anders.antonsson@cherry.se

This information was submitted for publication on 8 February 2018, at 10:00 a.m. CET.

 
CHERRY IN BRIEF

Cherry is a Swedish innovating and fast-growing gaming company established in 1963. The business strategy is to create shareholder value by owning and developing fast growing and profitable businesses within the gaming and casino industry. Today, Cherry operates through five diversified business areas: Online Gaming, Game Development, Online Marketing, Gaming Technology, and Restaurant Casino. The objective is to grow organically in combination with strategic acquisitions of fast-growing companies. Cherry employs some 1,100 people and has about 6,900 shareholders. The company’s class B share is listed on the Nasdaq Stockholm exchange, Mid Cap segment. More information is available at www.cherry.se.

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About Us

Cherry is a Swedish innovating and fast-growing company with operations in gaming, entertainment and media. The company was established in 1963 and today operates through five diversified business areas: Online Gaming, Game Development, Online Marketing, Gaming Technology, and Restaurant Casino. The objective is to grow organically in combination with strategic acquisitions of fast-growing companies. Cherry employs some 1,400 people and has about 6,700 shareholders. The company’s class B share is listed on the Nasdaq Stockholm exchange, Mid Cap segment. More information is available at www.cherry.se.

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