Cherry purchases 7,5 percent of the shares in Almor Holding

Swedish innovating and fast growing gaming company Cherry has acquired an additional 7,5% percent of the shares in Almor Holding Ltd (Almor), a leading online casino business specialising in German-speaking markets.

In July 2015 Cherry acquired a 71% majority stake in the Malta-based company for €4.6 million ($4.9 million), with the option to buy the remaining stake in the following four years and eight months. Later that year, Cherry took on an additional 4% stake and the latest purchase will increase its total holding in Almor to 82.5%.

Closing its purchase, Cherry AB holds first right to acquire the outstanding shares in Almor for a further three-years at a value of five times EBIT.