Cherry AB has acquired Betman AB’s 15 restaurant casinos in Sweden.
The venues are located within the Swedish districts of Stockholm, Sälen and Visby.
The company put the acquisition price at SEK 3.9 million, of £350,000. Betman will receive an initial cash payment of SEK 2.3 million, with the remainder paid by the third quarter of 2017.
In market note, Cherry officials said they expect the acquisition to contribute SEK 11 million in revenues with circa EBITDA of SEK 2 million. The company now controls about 68 percent of the Swedish gambling market.
“The acquisition of Betman means that we further solidify our leadership position in the restaurant casino market,” said Fredrik Burvall, CEO Cherry AB in a press statement. “It further strengthens our position in Stockholm, Sälen and Visby and adds qualified personnel, while we can use our scale advantage to help the venues perform even better.”
