Sweden’s Cherry has reported a 29 per cent increase in total revenue to SEK90.4m for the third quarter of 2014, with growing contributions from its Yggdrasil games developer business helping online gaming revenue increase by a third.

Online gaming revenue rose 33 per cent to SEK46.6m, representing 55 per cent of total revenue during the period, while revenue from the company’s restaurant casino rose 9 per cent year-on-year to SEK37.6m.

Cherry CEO Emil Sunvisson said: “The third quarter continued strong growth in sales, and new records set across all business areas. Cherry's investments in new growth areas within online gaming present great opportunities, as well as significant challenges."

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