Olympic Entertainment Group Winds Up Belarusian Subsidiary
Estonian gambling operator black diamond casino cruise Olympic Entertainment Group (OEG) announced that it has finalized the liquidation of Olympic Casino Bel IP, known to be its Belarusian subsidiary today.
The business explained in a statement that is short its internet site that the liquidation arrived within the group’s effort to modify its structure. OEG further noticed that the liquidation process will perhaps not influence its general activities that are economic.
The statement comes just days after it became known that the casino operator black diamond casino free play will have to close many of its gaming venues within the historical center of Riga, the main city and largest city of Latvia. Under a newly introduced ban, all gambling halls in the region but few situated in resort hotels should be shuttered within a five-year duration.
OEG black diamond casino billings mt said in a declaration that seven of its venues, those being slots casinos, will likely be closed as a result from the ban. It is still unknown when precisely the ban are imposed, nevertheless the casino operator noticed that it will not be before 2022 when its properties located in Riga’s historical center will have to close black diamond casino free spins doors june.
Olympic Voodoo Casino, regarded as the operator’s flagship Latvian casino, will remain intact since the prohibition will not protect its location. OEG said it does not expect any negative consequences that are financial ensue through the ban. The black diamond casino dublin ohio business owns 54 casinos and 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 monetary results for the first quarter black diamond casino slot of the season, reporting revenue before taxes of €51.5 million, up from €48.8 million throughout the same amount of 2016. Net income totaled €40.3 million, reflecting a rise through the quantity of €37.6 million produced an earlier year.
By the end associated with reported period, OEG black diamond casino support operated 4,100 slots, 108 electronic roulette terminals, and 167 video gaming tables in its properties across European countries. Additionally it is essential to notice so it ran 120 casinos and 31 wagering points by the finish of this year’s very first quarter, down from 124 gambling enterprises and 33 wagering points during the same amount of 2016.
OEG currently operates in its house country along black diamond casino gambleroad with in Latvia, Lithuania, Slovakia, Italy, and Malta. The organization exited Poland and Belarus year black diamond casino guess the game october 2017 that is last.
Might has been an eventful month for the Estonian operator in terms of its planned structure modification. The organization black diamond casino welcome bonus 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 closing black diamond casino games free, 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 risk management tools from its activities that are operational.