Olympic Entertainment Group Winds Up Belarusian Subsidiary
Estonian gambling operator Olympic Entertainment Group (OEG) today announced it has finalized the liquidation of Olympic Casino Bel IP, known to be its Belarusian subsidiary.
The company explained in a statement that is short black diamond casino guess the game november 2017 its internet site that the liquidation came as part of the team’s work to regulate its framework. OEG further pointed out black diamond casino group that the liquidation procedure will not affect its general financial tasks.
The announcement comes just times after it became known that the casino operator will need to shut a number of its video gaming venues in the historic center of Riga, the main city and city that is largest of Latvia. Under a newly introduced ban, all gambling halls in the area black diamond casino inc jupiter fl but few situated in resorts should be shuttered within a five-year period.
OEG stated in a declaration that seven of its venues, those slots that are being, is going to be closed as a result through the ban. It’s still diamond fun casino black notley unknown when exactly the ban will likely be imposed, nevertheless the casino operator remarked that it won’t be before June 2022 whenever its properties located in Riga’s historical center will have to shut doorways.
Olympic Voodoo Casino, considered to be the operator’s flagship casino that is latvian will remain intact due to the fact prohibition doesn’t cover its location. OEG stated it will not expect any negative consequences that are financial ensue from the ban. The company has 54 casinos and gaming black diamond casino no deposit halls across Latvia. These revenue black diamond casino net that is created of million and running revenue of €24.1 million in 2016.
OEG has recently posted its financial outcomes for initial quarter of the year, reporting income before fees of €51.5 million, up from €48.8 million during the same amount of 2016. Net revenue totaled €40.3 million, reflecting a rise through the number of €37.6 million created a year earlier in the day.
At the end for the reported period, OEG operated 4,100 slot machines, 108 electronic roulette black diamond casino zynga cheats terminals, and 167 gaming tables in its properties across Europe. Additionally it is important to notice so it ran 120 gambling enterprises and 31 betting points by the end of the year’s very first quarter, down from 124 casinos and 33 gambling points during the period that is same of.
OEG presently runs black diamond casino hack in its house nation along with in Latvia, Lithuania, Slovakia, Italy, and Malta. The business exited Poland and Belarus year that is last.
May happens to be an eventful thirty days for the Estonian operator with regards to its planned structure modification. The business announced the conclusion for the merger of its subsidiaries that are italian S.r.l. and Jackpot Game S.r black diamond casino download black diamond casino usa.l. Following 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 Orakulas Services, thus breaking up its black diamond casino columbus ohio technology platform and danger management tools from the operational activities.