Cherry online revenue rises 118% in Q1; Yggdrasil revenue spikes 519%

Nordic gambling operator Cherry AB’s online revenue in the first quarter of 2016 more than doubled from the same period last year.

For the three months ending March 31, Cherry’s overall revenue grew 86% to SEK 177.3m (US $21.5m) while the company reported positive earnings of SEK 26.5m compared to a loss of SEK 11.8m in the same period last year and an after-tax profit of SEK 17.5m.

Online revenue spiked 118% to SEK 127.3m. Online now accounts for 78% of overall revenue, up from 63% in the same quarter last year. The ranks of new online customers underwent a similar surge, topping 104k compared to less than 37k in Q1 2015.

The online gains reflect contributions from 2015’s lengthy list of acquisitions, which included the Game Lounge affiliate business, Almor’s German-facing brands, some Finnish affiliate domains and Malta-based Moorgate Media.