PlayCherry Ltd, the British subsidiary of Swedish gaming giant Cherry AB has been granted a license by the UK Gambling Commission.
Founded in the 1960s as a land-based casino operator, Cherry is also a major player in online casinos in Scandinavia and the rest of Europe. Until this week however, the lack of a Gambling Commission license had kept it out of one of the largest online gambling markets in the world.
“This is an additional step in the evolvement of Cherry iGaming,” explained Jonas Wåhlander, Cherry iGaming’s CEO.
“Through a wide offering we will have a brand for every key customer segment in the UK market, encompassing all types of products to engage with them.”
The license will open up the UK for some of Cherry’s top online brands, including flagship brand CherryCasino.com, and the recently relaunched EuroSlots.com.
Cherry may be new to the UK market, but the parent company has had a 49% stake in ComeOn! Casino since earlier this year, which is already licensed by British regulators.
Wåhlander continued, “With the current presence and insight we have, combined with ComeOn’s experience, we expect a positive entry into the market and are excited about the potential of this very important market.”
Cherry’s recent growth is not just limited to the front-end operations of online and offline casinos, however. The company has become an increasingly important player in back-end services, with its game designing subsidiary Yggdrasil Gaming supplying more and more online operators. Yggdrasil Gaming has been licensed to provide gaming content in the UK since 2015.
But its online growth has not stopped Cherry for consolidating its position in the land-based casino industry. It acquired the casino agreements, casino staff and equipment, including 15 venues and 27 gaming tables, from Betman AB in September. This acquisition gave Cherry 68 per cent of active gaming venues in their home market.
There’s little chance Cherry will be able to achieve the same dominant position in the hugely competitive UK online casino sector, but their full entry into the market will certainly get the attention of many rivals.