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 company explained in a statement that is short its site that the liquidation came as part of the black diamond casino west palm beach group’s effort to modify its framework. OEG further noticed that the liquidation procedure will perhaps not affect its overall financial activities.
The statement comes simply days after it became black diamond casino rising tide understood that the casino operator will have to shut many of its video gaming venues within the historical center of Riga, the administrative centre and largest city of Latvia. Under a newly introduced ban, all gambling halls in the region but few situated in resorts must be shuttered in just a five-year duration.
OEG said in a declaration that seven of its venues black diamond casino forum, those slots that are being, is going to be closed because of this through the ban. It is still unknown whenever precisely the ban are imposed, however the casino operator remarked that it will never black diamond casino music be before June 2022 whenever its properties based in Riga’s historic center will need to close doorways.
Olympic Voodoo Casino, considered to be the operator’s flagship casino that is latvian will remain intact since the prohibition doesn’t cover black diamond casino not working its location. OEG said it does not expect any negative consequences that are financial ensue through the ban. The company has 54 casinos and gaming halls across Latvia. These revenue that is generated of million and running profit of €24.1 million real-money-casino.club in 2016.
OEG has recently posted its black diamond casino phone number monetary results for the first quarter of the year, reporting revenue before taxes of €51.5 million, up from €48.8 million through the exact same amount of 2016. Net income totaled €40.3 million, showing a rise black diamond casino contact number from the number of €37.6 million generated a year earlier in the day.
By the end associated with period that is reported OEG operated 4,100 slots, 108 electronic roulette terminals, and 167 gaming tables in its properties across European countries. Additionally it is crucial to note it ran 120 casinos and 31 betting points by the end of this 12 months’s very first quarter, down from 124 gambling enterprises and black diamond casino gmbh 33 wagering points during the period that is same of.
OEG presently operates in its home nation along with in Latvia, Lithuania, Slovakia, Italy, and Malta. The black diamond casino cripple creek colorado organization exited Poland and Belarus year that is last.
May is an eventful month for the Estonian operator in relation to its planned structure adjustment. The business announced the completion associated with the merger of its subsidiaries that are italian S.r.l. and Jackpot Game S.r.l. Following the merger’s closure, OEG will now run its Italian operations under the Slottery brand.
In Lithuania, OEG demerged its UAB Orakulas subsidiary into UAB Orakulas and UAB Orakulas Services, thus breaking up its technology platform and risk management black diamond casino riviera beach tools from its activities that are operational.