Olympic Entertainment Group Winds Up Belarusian black diamond casino group 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 internet site that the liquidation came included in the group’s work to regulate its structure. OEG further pointed out that the liquidation process will maybe not impact its overall black diamond casino usa activities that are economic.
The announcement comes simply times after it became known that the casino operator will need to shut several of its gaming venues within the historical center of Riga, the administrative centre and city that is largest of Latvia. All gambling diamond fun casino black notley 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 said in a declaration that seven of its venues, those slots that are being, are closed as a result through black diamond casino net the ban. It is still unknown whenever exactly the ban are going to be imposed, but 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 Latvian casino, will continue to be intact because the prohibition doesn’t protect black diamond casino no deposit its location. OEG said that it does not expect any negative consequences that are financial ensue through the ban. The organization has 54 casinos and video gaming halls across Latvia. These generated revenue of €66.2 million and black diamond casino inc jupiter fl running profit of €24.1 million in 2016.
OEG has recently posted its financial outcomes for 1st quarter of the year, reporting revenue before taxes of €51.5 million, up from €48.8 million during the exact same period of 2016. Web income totaled €40.3 million, reflecting a rise from the quantity of €37.6 million created an earlier year.
At the conclusion of this period that is reported OEG operated 4,100 slots, 108 electronic roulette terminals, and 167 gaming tables in its properties across Europe. It is also crucial to see so it ran 120 casinos and 31 betting points by the finish with this 12 months’s very first quarter, down from 124 casinos and 33 gambling points black diamond casino hack during the period that is same of.
OEG presently operates in its house nation as well as in Latvia, Lithuania, Slovakia, Italy, and Malta black diamond casino guess the game november 2017. The business exited Poland and Belarus last year.
May happens to be an eventful month for the Estonian operator in relation to its planned framework modification. The business announced the completion of the merger of its subsidiaries that are italian S.r.l. and Jackpot Game S.r.l. Following merger’s closing, OEG will now run its Italian black diamond casino columbus ohio operations under the Slottery brand.
In Lithuania, OEG demerged its UAB Orakulas subsidiary into UAB Orakulas and UAB Orakulas solutions, hence isolating its technology platform and danger management tools from the activities that are operational.