Olympic Entertainment Group Winds Up Belarusian Subsidiary

Estonian gambling operator Olympic Entertainment Group (OEG) announced that it has finalized the liquidation black diamond online casino of Olympic Casino Bel IP, known to be its Belarusian subsidiary today.

The business explained in a quick declaration on its internet site that the liquidation arrived within the team’s effort to adjust its framework. OEG further remarked that the liquidation procedure will black diamond casino bonus code maybe not impact its overall activities that are economic.

The statement comes just times after it became known that the casino operator will need to shut many of its video gaming venues into the historic center of Riga, the main city and biggest city of Latvia black diamond casino games. All gambling halls in the area but few located in hotels will have to be shuttered within a five-year period under a newly introduced ban.

OEG stated in a statement that seven of its venues, those being slots casinos, is closed as a result from the ban. It is still unknown black diamond casino no deposit bonus whenever exactly real-money-casino.club the ban are imposed, however the casino operator remarked that it won’t 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 promo codes Latvian casino, will stay intact while the prohibition doesn’t cover its location. OEG stated it does not expect any negative monetary consequences to ensue through the ban. The organization owns 54 casinos and video gaming halls across Latvia. These revenue that is generated of million and running profit of €24.1 million in 2016.

OEG has recently posted its financial outcomes for 1st quarter of the season, reporting income before fees of €51.5 million, up from €48.8 million through the same period of 2016. Net revenue black diamond casino login totaled €40.3 million, showing a growth from the number of €37.6 million produced a year early in the day.

At the conclusion regarding the reported period, OEG operated 4,100 slots, 108 electronic roulette terminals, and 167 video gaming tables in its properties across black diamond casino cheats European countries. Additionally it is essential to see that it went 120 gambling enterprises and 31 gambling points by the end of this 12 months’s very first quarter, down from 124 gambling enterprises and 33 gambling points throughout the period that is same of.

OEG presently runs in its house country black diamond casino as well as in Latvia, Lithuania, Slovakia, Italy, and Malta. The organization exited Poland and Belarus year that is last.

May has been an eventful thirty days for the Estonian operator with regards to its planned framework modification. The company announced the conclusion regarding the merger black diamond casino promo code of its subsidiaries that are italian S.r.l. and Jackpot Game S.r.l. After the merger’s closing black diamond casino free slots, 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, hence separating its technology platform and danger management tools from its activities that are operational.