Olympic Entertainment Group Winds Up Belarusian Subsidiary
Estonian gambling operator Olympic Entertainment Group (OEG) announced that it has finalized the liquidation of Olympic Casino black diamond casino guess the game october 2017 Bel IP, known to be its Belarusian subsidiary today.
The organization explained in a statement that is short its website that the liquidation came within the group’s work to adjust its structure. OEG further remarked that the liquidation process will maybe not influence its general financial activities.
The statement comes simply days after it became understood that the black diamond casino billings mt casino operator will need to close many of its gaming venues within the historic center of Riga, the administrative centre and largest town of Latvia. Under a newly introduced ban, all gambling halls in the region but few situated in accommodations must be shuttered inside a five-year period.
OEG stated in a statement that seven black diamond casino gambleroad of its venues, those being slots casinos, will be closed because of this through the ban. It is still unknown when exactly the ban will likely be imposed black diamond casino free spins, however the casino operator remarked that it won’t be before June 2022 whenever its properties situated in Riga’s historical center will have to close doors.
Olympic Voodoo Casino, known to be the operator’s flagship Latvian casino, will continue black diamond casino dublin ohio to be intact as the prohibition does not protect its location. OEG said so it doesn’t expect any negative consequences that are financial ensue from the ban. The organization has 54 casinos and gaming halls across Latvia. These generated revenue of €66.2 million and operating profit of €24.1 million in 2016 black diamond casino free play.
OEG has recently posted its financial results for the first quarter of the year, reporting revenue before fees of €51.5 million, up from €48.8 million during the exact same period of 2016. Web revenue totaled black diamond casino slot €40.3 million, showing a rise through the level of €37.6 million generated a year earlier.
At the end of this reported period, OEG operated 4,100 slot machines, 108 electronic roulette terminals, and 167 video gaming tables in its properties across Europe. It’s also essential to see so it ran 120 gambling enterprises and 31 betting points by the conclusion of black diamond casino cripple creek colorado this 12 months’s first quarter, down from 124 casinos and black diamond casino support 33 betting points through the period that is same of.
OEG presently runs in its house country also in Latvia, Lithuania, Slovakia, Italy, and Malta. The company exited Poland and Belarus year that is last.
May is an eventful month for the Estonian operator in terms of its planned framework modification. The organization announced the conclusion associated with the merger black diamond casino cruise of its Italian subsidiaries Slottery S.r.l. and Jackpot Game S.r.l. Following a merger’s closure, OEG will now run its operations that are italian the Slottery brand.
In Lithuania, OEG demerged its UAB Orakulas black diamond casino games free subsidiary into UAB Orakulas and UAB Orakulas Services, hence separating its technology platform and danger management tools from the activities that are operational.