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High marketing costs impact Cherry’s bottom line in third quarter

6th November 2013 10:06 am GMT

Sweden’s Cherry has recorded a net loss of SEK11.9m for the third quarter of 2013 after the company more than doubled its online gaming marketing activities as it looks to establish new brands including CherryCasino.com.

Total revenue for the quarter rose by 15 per cent to SEK69.9m, with online gaming accounting for more than half of the total, rising 31 per cent to SEK35.1m.“Online gaming is again Cherry’s largest business area measured by turnover,” said [...]

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