Cherry acquires additional shares in Highlight Games
Cherry purchases shares to the amount of GBP 5.4 million
Cherry has obtained an additional 7.8% of the shares from Highlight Games Ltd. The company has also acquired shares corresponding to 15.1 % of the company from parties not active in the company.
The total purchase price amounts to GBP 5.4 million, which will be financed by cash. Following the transactions, Cherry’s total ownership in Highlight Games amounts to 60.4 percent of outstanding shares – consolidating the company in the Cherry Group in the Game Development business area.
Highlight Games offers a unique and patented product, together with multi-year rights to use footage from inter alia historical football matches to create unique virtual sports content. The company has now started deployment of its SOCCERBET game into several African countries.
In the coming months, Highlight Games will be launching in Italy with Eurobet with a planned deployment strategy to include a number of the leading Italian operators as the company targets the 2 billion euro Italian virtual sports market.
Looking ahead, the company is exploring a number of new opportunities across several sports in emerging markets, with its innovative sports product uniquely using archive live-action sports footage.
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