MECN study says Cherry Group are tops in revenue growth
News on 22 Aug 2017
News on 22 Aug 2017
A study of Q1-2017 results conducted by independent research firm MECN has produced an interesting “best 4” list of top revenue-generating companies, with the Swedish Cherry Group singled out as the leader, having grown its revenues in the quarter by a remarkable 281 percent to SEK453 million.
Cherry’s success was to some extent based on its earlier multi-million kronor acquisition of the ComeOn online casino group, and Cherry continues to harbour big ambitions for the enterprise.
Canadian online gambling services provider NYX Gaming is second on the list with Q1-2017 revenues of Cdn$59 million – a year-on-year rise of 200 percent.
Again a major acquisition helped drive the business to new heights – the purchase of online sports betting provider OpenBet for a reported GBP 270 million. The company also launched 11 new online gambling websites during the quarter, which boosted returns.
Malta-based but Norwegian owned Gaming Innovation Group is third on the MECN list, reporting revenues up 193 percent in Q1-2017 at Euro 23.1 million.
With an agile acquisition and creative strategy the company launched a number of attractive and successful online casino brands which boosted player acquisition to record heights. GIG has also embarked on a strong affiliate company acquisition strategy, buying up affiliate websites and bringing them into the group as a powerful business generator.
Live dealer provider Evolution Gaming occupies the fourth position on the list, growing its Q1-2017 revenues 60 percent to almost Euro 40 million. Evolution is a leader in a fast-growing sector that is proving increasingly popular with the international player community, with strong future potential.
