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Cherry: Cherry continues to boost Online Gaming - Strengthens management team

Cherry continues to invest in its Online Gaming business area. Today
Fredrik Burvall, Cherry Group CEO, announced changes to the Online
Gaming business area where Jonas Wåhlander has been appointed CEO for
Cherry Online Gaming. The appointment has been made to support the
group's aspiration to drive further growth and profitablity.

The Online Gaming business area, which is based in Malta, has become
increasingly important for the company. Following a number of
acquisitons and operational improvements, the business area has moved
into increased profitability, as well as outpacing the market in
terms of growth. In Q3, it represented 70% of Cherry of Group's
turnover. Cherry Online Gaming has been named "Online Gaming Operator
of the Year" at the International Gaming Awards for the past two
years, but is hungry for further success.

Effective from December 1st, Jonas Wåhlander is appointed as Chief
Executive Officer (CEO) of the Online Gaming business area. Wåhlander
has 15 years' experience in senior positions within various
screen-based, online entertainment businesses, most recently managing
the Universal Sony Pictures operations in the Nordic region where he
served as Managing Director.

To further strengthen Online Gaming, the Chief Operating Officer (COO)
Marius Andersen, will remain in the business area and report into
Wåhlander. Andersen will take on a newly created key senior role in
the team, taking operational ownership of and leading Cherry Online
Gaming's aspirational growth objectives and exploration in to new
markets and focus on partner co-operations, as Chief Growth Officer.

"Cherry's long-term strategy is to generate continued profitable
growth in online gaming, both through organic growth and
acquisitions. These management changes will support Cherry Online
Gaming to continue to grow faster than the market and increase our
profitability. With Jonas Wåhlander joining, we bring added
leadership and further experience from high volume, fast-paced and
consumer centric business models. Marius Andersen has been an
extremely valuable part of our outstanding growth in recent years and
we are pleased we will maintain his significant experience and
knowledge, in a role where we will benefit most from his skills and
competencies," says Fredrik Burvall, Cherry Group CEO.

"I'm really looking forward to joining a loyal, best in class team in
Malta to continue to drive the business forward; it's a tremendously
exciting opportunity. Cherry is a group with great values, tradition
and brands that we can harvest. I've been very impressed by Cherry's
focus on the future and the most recent results show that the
business is going very much in the right direction. It's our
objective to act as leaders and I'm going to do everything I can to
help Cherry continue to achieve that," says Jonas Wåhlander.

"Cherry's Online Gaming business area has performed really well over
the past year and I'm really excited to be in this new role which is
dependent on maximising growth. I'm looking forward to continue
supporting Cherry Online Gaming as we enter new markets and
outperform the market when it comes to growth," says Marius Andersen

Cherry AB's other Business Areas are not affected by these changes.

For more information, please contact:
Fredrik Burvall, CEO Cherry AB (plc), Phone +46 (0) 8 514 969 52,

Cherry in brief

Cherry is a Swedish gaming company established in 1963 specialized in
online casinos and lotteries (,,,,,,,,, and, affiliate business through Game Lounge and games
development (, through subsidiaries in Malta.
Cherry is the market leader in casinos in restaurants and nightclubs
in Sweden. Cherry employs around 750 people and has more than 2,900
shareholders. The Company's B-shares are listed on AktieTorget.


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