Olympic Entertainment Group Winds Up Belarusian Subsidiary
Estonian gambling operator Olympic Entertainment Group (OEG) today announced that it has finalized the liquidation of Olympic Casino Bel IP, regarded as its Belarusian subsidiary.
The organization explained in a brief declaration on its internet site that black diamond casino events cincinnati oh the liquidation came within the group’s work to regulate its structure. OEG further pointed out that the liquidation procedure will not impact its overall activities that are economic.
The statement black diamond casino chest keys comes just days after it became known that the casino operator will need to shut several of its gaming venues in the historical center of Riga, the main city and biggest city of Latvia. Under a newly introduced ban, all gambling halls in the area but few located in hotels should be shuttered in just a five-year duration.
OEG stated in a statement that seven of its venues, those black diamond casino bonus codes being slots casinos black diamond casino tucson, are closed because of this from the ban. It is still unknown whenever precisely the ban are imposed, but the casino operator remarked that it will never be before June 2022 when its properties based in Riga’s historic center will have to close doorways.
Olympic Voodoo Casino, considered to be the operator’s flagship casino that is latvian will remain intact as the prohibition doesn’t cover its location. OEG black diamond casino bonus codes 2017 real-money-casino.club stated so it will not expect any negative consequences that are financial ensue through the ban. The company has 54 casinos and video gaming halls across Latvia. These generated income of €66.2 million and running revenue of €24.1 million in 2016.
OEG has recently posted its financial results for the initial quarter of the year, reporting revenue before taxes of €51.5 million, up from €48.8 million throughout the black diamond casino no internet connection exact same period of 2016. Net income totaled €40.3 million, reflecting a growth through the amount of €37.6 million black diamond casino hotel generated an earlier year.
At the conclusion associated with period that is reported OEG operated 4,100 slots, 108 electronic roulette terminals, and 167 video gaming tables in its properties across black diamond casino 25 European countries. It is also crucial to notice it went 120 casinos and 31 wagering points by the finish of the 12 months’s first quarter, down from 124 gambling enterprises and 33 wagering points throughout the exact same amount of 2016.
OEG currently runs in its house nation along with in Latvia, Lithuania, Slovakia, Italy, and Malta. The business exited Poland and Belarus a year ago.
Might was a month that is eventful the Estonian operator in relation to its planned framework modification. The organization black diamond casino signup bonus announced the completion regarding the merger of its Italian subsidiaries Slottery S.r.l. and Jackpot Game S.r.l. Following a merger’s closing, OEG will now run its operations that are italian the Slottery brand.
In Lithuania, OEG demerged its UAB Orakulas black diamond casino no deposit bonus codes 2018 subsidiary into UAB Orakulas and UAB Orakulas solutions, thus splitting its technology platform and danger management tools from its activities that are operational.