Yggdrasil to enter Czech Republic with Tipsport gaming deal
Yggdrasil, a Cherry AB (publ) – STO: CHER-B.ST – subsidiary, has signed an agreement with Tipsport, the largest operator in the Czech Republic. Yggdrasil will offer its portfolio of innovative, high-quality casino games in this regulated market for the first time.
Tipsport is the Czech Republic’s largest betting and gaming brands with more than 1,000 retail outlets and a rapidly growing online offering that will now feature some of Yggdrasil’s smash-hit slot games, including latest releases Vikings Go To Hell and Tut’s Twister. Tipsport will also use Yggdrasil’s unique in-game promotional tool BOOST® that enhances the player experience via in-game tournaments, cash races and missions.
The Czech Republic’s online regulated market came into force on 1st January 2017. The market generated about EUR 1.6 billion in gross win in 2017 with online contributing EUR 380 million of that total, according to independent data specialist H2 Gambling Capital. Yggdrasil games are expected to go live in the Czech Republic with Tipsport in the coming months, in full compliance with the Czech Republic’s requirements. Yggdrasil’s games are live in a host of regulated and newly regulated markets, including Denmark, Belgium, Estonia, Italy, Latvia, and the UK, with its games due to imminently launch in Spain, alongside Czech Republic.
Yggdrasil CEO Fredrik Elmqvist, said:
“In February this year we signed a deal to enter Spain, one of Europe’s fastest-growing and most exciting jurisdictions, and today we’re announcing our entry into the Czech Republic with leading brand Tipsport. As part of our long-term strategy we are committed to expanding our regulated market footprint. If we feel an environment is right for our leading games and promotional tools, then we will enter it with the best possible partners. We’re excited to be going live with Tipsport and fostering a long-term partnership.”
Jakob Lorentzon, Head of Online Casino at Tipsport, said:
“We are delighted to be partnering with such an innovative and dynamic business as Yggdrasil. Their games perform very well in regulated markets and we are very much looking forward to offering them to our large and expanding customer base.”
For further information, please contact:
Fredrik Elmqvist, CEO Yggdrasil, +356 99 62 51 04, fredrik@yggdrasilgaming.com
Anders Antonsson, IR & Communications: +46 709 994 970, anders.antonsson@cherry.se
This information was submitted for publication on 13 August 2018, at 10:00 a.m. CET.
CHERRY IN BRIEF
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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