The Amaya Gaming Group (AGG) has been on a roll since the very start of 2014 from earning recognition, to closing acquisition deals and sealing iGaming contracts one after another, not only in Canada but also in the international gaming market as well.
Last week, the Toronto-based gaming and lottery company, came out with another announcement of its iGaming partnership, this time with Sweden’s Cherry AB.
A licensing agreement between Cherry AB and the AGG, will see the Canadian firm providing gaming contents to Cherry’s three European online gaming sites, namely Euroslots.com, Cherrycasino.com and Spilleautomater.com This means that players coming from different European regions will finally have access to a wide-ranging selection of online casino games, lifted from the hundreds of titles available for deployment via the Canadian firm’s proprietary casino gaming platform. Real money gaming entertainment such as online slots, video poker and casino table games will be available in multiple languages and currencies, and can be accessed via desktop or by way of mobile phones and other portable gaming devices.
Not surprisingly, the seemingly unceasing announcements about Amaya’s newest iGaming achievements and partnership agreements have created positive effects on AGG’s stock market performance. Last Friday, the Canadian gaming company’s stocks went up by 14 percent and closed at CA$10.25, after starting at only CA$7.71 at the opening of the previous week’s stock trading.
Accordingly, there will be more announcements to come, which could even involve PokerStars; but all deals still have to be finalized before these are made public, because AGG is a publicly listed company. The Amaya-Cherry agreement is now official and as expected, has created favorable effects on Amaya’s stock trades.
Cherry AB actually started out in 1963 in Sweden as a restaurant business called Restaurang Rouletter and later changed its business name to Cherry in 1972. A year later, the Swedish government passed a legislation allowing licensed restaurants to install slot machines, and this signaled Cherry’s introduction to the gambling business. In the same year, Cherry grew rapidly and came to own 55 percent of Sweden’s slot market, which was cut short in 1978 when the government passed new laws that banned slot machines.
In 1984, Cherry re-emerged by acquiring several Swedish gaming companies, which became the foundation of a new business group that supplies slot machines and casinos in some East European countries. In 1992, the Cherry Group arrived at a decision to close down its Eastern European operations and for the company to devote its full concentration in Sweden and on Scandinavian ships. Years later the Cherry Group became a shareholder in several Sweden-based gaming businesses, including Net Entertainment AB, First Casino, Betsson.com and several other Swedish casinos.
In 2005, the Cherry Group came out with an announcement of dividing the business into three divisions, Betsson, Cherry and Net Entertainment. The year 2011 Cherry saw the launching of Europe’s biggest lottery, the EuroLotto.com. and a year after, the group launched EuroSlots.com, which was followed by the launch of CherryCasino.com and SpilleAutomater.com in 2013. In the same year, the Cherry Group made another substantial investment in Yggdrasil Gaming and in Sweden’s new sports lottery, Klubblo.
This year, Cherry became the recipient of the 2014 International Gaming Award as “Online Gaming Operator of the Year.”