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Cherry acquires remaining shares in Game Lounge
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Cherry AB (publ) (“Cherry”) – STO: CHER-B.ST – has signed an agreement to acquire the remaining shares in leading affiliate company Game Lounge Sweden AB (“Game Lounge”), thus gaining 100-percent ownership.
Cherry currently owns 95 percent of Game Lounge, which in turn owns 100 percent of Game Lounge Ltd. Cherry has signed an agreement to acquire the remaining 5 percent of Game Lounge. The purchase consideration consists of three parts and can amount to a maximum SEK 260 million.
The first part of the purchase consideration is fixed and amounts to SEK 100 million to be paid in cash when Cherry gains control of the shares. The second part of the purchase considerations amounts to SEK 60 million and is conditional on Game Lounge’s consolidated EBITDA for the period 1 January 2019 to 30 June 2019 exceeding SEK 90 million. In the event that the target of SEK 90 million is not reached as per 30 June 2019, the measurement period will be extended until 30 September 2019, at which time, Game Lounge’s consolidated EBITDA shall amount to at least SEK 150 million. The third part of the purchase consideration amounts to SEK 100 million and requires Game Lounge’s consolidated EBITDA to exceed SEK 300 million for any consecutive four calendar quarter period between 1 July 2019 and 31 December 2021, or between 1 October 2019 and 31 December 2021 in the event that the measurement period for the second part of the purchase consideration is extended in accordance with the above. Cherry is entitled to pay all or part of the second and third parts of the purchase consideration in Class B shares in Cherry.
The sellers are employees of Game Lounge. Against this background, the acquisition constitutes a so-called related-party transaction and must therefore be approved by a general meeting in Cherry. Cherry’s Board of Directors will prepare a written account of the acquisition and obtain an independent valuation statement (fairness opinion) regarding Game Lounge.
The operations in Game Lounge have developed well and Cherry’s Board of Directors makes the assessment that the company will continue to enjoy favourable market conditions into the future and that it is therefore desirable to increase Cherry’s holding to 100 percent. The sellers will remain in their senior positions, are shareholders in Cherry and also participate in incentive program within the Cherry Group. Accordingly, the Board of Directors assesses that the terms of the acquisition, including the purchase consideration, are in line with the market and will therefore recommend that Cherry’s Annual General Meeting approve the acquisition in accordance with the principal terms above.
CHERRY IN BRIEF:
Cherry is an innovative and fast-growing gaming company with operations in gaming, media and entertainment.
The company was founded in 1963 and today, Cherry operates through five diversified business areas: Online Gaming, Game Development, Online Marketing, Gaming Technology, and Restaurant Casino. The Group’s objective is to grow organically in combination with strategic acquisitions of fast-growing companies. Cherry employs some 1,400 people and has about 9,250 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.
Source: Latest News on European Gaming Media Network

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RTG Announces Evive Australia as the First Innovation to Take the Stage at Pitch!
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Regulating the Game (RTG) has announced Evive Australia as the first innovation to take the stage at Pitch! – part of the annual RTG gathering in Sydney in March.
The event will take place at the famous Sydney Opera House on 9 March 2026, as part of the sixth edition of the international regulatory and industry conference.
Evive is an app designed to help people change how they play or seek support for gambling harms. Created by Sam DeMello, a tech specialist drawing on his lived experience of gambling harm, and supported by Jay Robinson, a safer-gambling expert with over two decades of harm-minimisation and prevention experience, Evive Australia aims to deliver personalised tools, resources and pathways for anyone seeking to reduce risk or access help.
“Evive brings together real-world experience, clinical expertise and technology to create an accessible and credible platform for change. Pitch! was conceived to spotlight exactly these kinds of innovations – ideas that challenge convention, improve safeguards and reimagine the future of regulation and industry practice,” said Paul Newson, Principal at Vanguard Overwatch and founder of Regulating the Game.
“Evive isn’t just another app, it’s a bridge between lived experience, behavioral science and practical support. It shows that compliance and compassion can coexist, and when they do, everyone benefits. The app gives regulators and operators confidence in credible harm reduction tools, while giving people a safe, stigma free path to change,” Robinson said.
The post RTG Announces Evive Australia as the First Innovation to Take the Stage at Pitch! appeared first on European Gaming Industry News.
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Hacksaw Gaming Goes Live with bet365 Brazil
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Celebrating yet another market expansion together, Hacksaw Gaming and bet365 are now live in Brazil, via Light & Wonder.
Currently sporting their very own superhero in the form of the branded Spinman slot, bet365 Brazil users can look forward to an array of Hacksaw Gaming slots becoming available very soon.
Hacksaw and bet365 already boast a long-standing partnership, with content live in a notable amount of markets, including Mexico, Ontario and the UK. This is yet another standout go-live that highlights both their relationship and their shared ambition of bringing innovative, quality content to users worldwide. By continuing to expand alongside industry leaders like bet365, Hacksaw reinforces its commitment to delivering boundary-pushing content to players worldwide, while strengthening its position as a key supplier in regulated markets.
A spokesperson at bet365 said: “We’re thrilled to extend our partnership with Hacksaw Gaming into the Brazilian market. Our players are always looking for fresh and engaging content, and Hacksaw’s portfolio has proven time and again to deliver exactly that. We’re confident this expansion will be a big hit with our growing audience in Brazil.”
Marcus Cordes, Operational CEO of Hacksaw Gaming, said: “Going live with bet365 in Brazil is a proud moment for us. Latin America is a key growth region for our industry, and to expand with one of the biggest names in the industry showcases the strength of our content and the trust we’ve built through our partnership. We look forward to entertaining new players with our unique and innovative titles.”
The post Hacksaw Gaming Goes Live with bet365 Brazil appeared first on European Gaming Industry News.
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Shacks Evolution Announce Strategic Partnership with Moja Group
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Shacks Evolution Studios, a leader in mobile-first gaming innovation, has announced a strategic partnership with Moja Group Inc., the parent company of Mojabet, one of Africa’s top online betting platforms.
This collaboration aims to redefine Africa’s iGaming experience through locally inspired, high-performance digital entertainment. As part of this partnership, Shacks Evolution Studios is launching two exclusive instant games: Mojawheel and Moja Citadel fully customised for Mojabet users.
These titles will be accompanied by a broader rollout of Shacks Evolution’s instant games portfolio, now accessible to audiences across multiple African markets.
“At Shacks Evolution Studios, we believe in creating games that resonate with the environment and culture of the people playing them. This partnership with Moja Group allows us to bring cutting-edge gameplay to millions while staying true to the realities of Africa’s digital landscape, including low network availability and diverse cultural tastes,” said Kwame Mensah, CEO of Shacks Evolution Studios.
“This collaboration is about more than just gaming, it’s about celebrating African creativity and delivering world-class entertainment with a local touch. By working closely with Shacks Evolution Studios, we are offering our Mojabet users something truly unique, games that feel like they were made just for them,” said Amina Diallo, Chief Marketing Officer at Moja Group Inc.
The post Shacks Evolution Announce Strategic Partnership with Moja Group appeared first on European Gaming Industry News.
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