Operator Cherry has reported a 60 per cent year-on-year increase in online gaming turnover for the fourth quarter of 2014, with online deposits in the period also up by 56 per cent.
Revenue across the group increased by 33 per cent in Q4, up to SEK100.2m from SEK75m.
For the full year to December 31, 2014, group revenue was up by 28 per cent to SEK340m. Online revenues grew by 44 per cent in 2014 with Yggdrasil Gaming signing 18 new contracts and going live with 13 new operators in the period.
The figures do not reflect the January 2015 acquisition of 51 per cent of the shares in the affiliate business Game Lounge.
Cherry CEO Fred Burvall said: “The fourth quarter showed strong growth in sales and new records set across all business areas and, after non-recurring costs, it also showed improved financial results.
“Cherry has, in the fourth quarter and beginning of 2015, made a number of changes in order to create the best possible conditions for further profitability and continued growth. Among these were changes in management, where Cherry decided to strengthen management within the online business, the acquisition of the affiliate company Game Lounge and further focus on the core business.
“Cherry has decided to phase out its involvement in the Swedish sports lottery Klubblo,” continued Burvall.
“In the fourth quarter online gaming showed strong growth of 60 per cent, which, combined with improved financial results, means that Cherry’s efforts to improve the gaming experience and increase customer loyalty has begun to show results.”
