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 black diamond casino mobile.
The business explained in a brief statement on its site that the liquidation came within the group’s work to modify its framework. OEG further remarked that the liquidation process will maybe not impact its overall activities that are economic.
The statement comes simply times after it became understood that the casino operator will have to close several of its black diamond casino sister sites video gaming venues into the historical center of Riga, the main city and largest black diamond casino sign up city of Latvia. All gambling halls in the area but few located in hotels will have to be shuttered within a five-year period black diamond casino events under a newly introduced ban.
OEG stated in a statement that seven of its venues, those slots that are being, are black diamond casino vicksburg closed as a result from the ban. It is still unknown when precisely the ban is imposed, however the casino operator noticed that it will not be before 2022 when its properties located in Riga’s historical center will have to close doors june.
Olympic Voodoo Casino, known to be the operator’s flagship black diamond casino ship west palm beach Latvian casino, will continue to be intact because the prohibition does not cover its location. OEG said so it does not expect any negative financial consequences to ensue from the ban. The organization owns 54 gambling enterprises and video gaming halls across Latvia. These revenue that is created of million and running revenue of €24.1 million in 2016.
OEG has recently posted its financial zynga black diamond casino free coins results for the very first quarter of the year, reporting revenue before fees of €51.5 million, up from €48.8 million through the exact same period of 2016. Web revenue totaled €40.3 million, reflecting a growth through the amount of €37.6 million created an earlier year.
By the end of this reported period, OEG operated 4,100 slot machines, 108 electronic roulette terminals black diamond casino review, and 167 gaming tables in its properties across Europe. It’s also crucial to note so it ran 120 casinos and 31 wagering points by the end with this year’s very first quarter, down from 124 gambling enterprises and 33 gambling points during the period that is same of.
OEG currently runs black diamond casino slots in its house country also in Latvia, Lithuania, Slovakia, Italy, and Malta. The company exited Poland and Belarus year that is last casinos similar to black diamond casino.
Might has been a month that is eventful the Estonian operator with regards to its planned framework modification. The organization announced the completion associated with merger of its subsidiaries that are italian 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 subsidiary into UAB Orakulas black diamond casino tips and UAB Orakulas Services, hence breaking up its technology platform and risk management tools from its activities that are operational.