Olympic Entertainment Group Winds Up Belarusian Subsidiary
Estonian gambling operator Olympic Entertainment Group (OEG) announced that it has finalized the liquidation of Olympic Casino Bel IP, known to be its Belarusian subsidiary today.
The black diamond casino cruise organization explained in a statement that is short its internet site that the liquidation arrived within the team’s work to adjust its structure. OEG further pointed out that the liquidation procedure will perhaps not impact its overall activities black diamond casino billings mt that are economic.
The statement comes just days after it became understood that the casino operator will have to close several of its gaming venues in black diamond casino guess the game october 2017 the historical center of Riga, the administrative centre and city that is largest of Latvia. Under a newly introduced ban, all gambling halls in the region but few based in resort hotels will have to be shuttered within a five-year black diamond casino guess the game october 2017 period.
OEG stated in a statement that seven of its venues, those being slots casinos, are closed because of this through the ban. It’s still unknown when precisely the black diamond casino free spins ban will be imposed, however the casino operator pointed out that it won’t be before June 2022 when its properties positioned in Riga’s historic center will have to close doors.
Olympic Voodoo Casino, known to be the operator’s flagship casino that is latvian black diamond casino support will stay intact as the prohibition doesn’t cover its location. OEG said it doesn’t expect any negative consequences that are financial ensue from the ban. The organization has 54 casinos and video gaming halls across Latvia. These revenue black diamond casino dublin ohio that is created of million and running revenue of €24.1 million in 2016.
OEG has recently posted its monetary results for the first quarter of the season, reporting revenue before fees of €51.5 million, up from €48.8 million through the same amount of 2016. Web income totaled €40.3 million, showing a growth from the level of €37.6 million generated a year earlier.
At the conclusion of the reported period, OEG operated 4,100 slot machines, 108 black diamond casino slot electronic roulette terminals, and 167 video gaming tables in its properties across Europe. It is also essential to note it ran 120 casinos and 31 gambling points by the conclusion with this year’s very first quarter, down from 124 casinos and 33 gambling points through the period that is same of.
OEG black diamond casino free play currently runs in its home country as well as in Latvia, Lithuania, Slovakia, Italy, and Malta. The organization exited Poland and Belarus year that is last.
May happens to be a month that is eventful the Estonian operator with regards to its planned black diamond casino gambleroad framework modification. The company announced the conclusion associated with the merger of its Italian subsidiaries Slottery S.r.l. and Jackpot Game S.r.l. After the merger’s closure, OEG will now run its operations that are italian the Slottery brand.
In Lithuania, OEG demerged its UAB Orakulas subsidiary into UAB Orakulas and UAB black diamond casino games free Orakulas solutions, thus breaking up its technology platform and danger management tools from the operational tasks.