Olympic Entertainment Group Winds Up Belarusian Subsidiary
Estonian gambling operator black diamond casino inc jupiter fl 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 web site that the liquidation arrived as part of the group’s work to adjust its framework. OEG further pointed out black diamond casino net that the liquidation procedure will not affect its general activities that are economic.
The statement comes just days after it became known that the casino operator will need to close many of its video gaming venues within the historic center of Riga, the administrative centre and city that is largest of Latvia. 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 black diamond casino guess the game november 2017, those being slots casinos, will likely be closed as a result from the ban. It’s still unknown whenever exactly the ban are going to be imposed, but the casino operator remarked that it will never be before diamond fun casino black notley 2022 when its properties located in Riga’s historical center will have to close doors june.
Olympic Voodoo Casino, regarded as the operator’s flagship casino that is latvian will stay intact because the prohibition will not protect its black diamond casino group location. OEG said it does not black diamond casino download expect any negative economic consequences to ensue from the ban. The organization has 54 gambling enterprises and video gaming halls across Latvia. These generated income of €66.2 million and black diamond casino no deposit operating revenue of €24.1 million in 2016.
OEG has recently posted its monetary results for the very first quarter of the season, reporting income before fees of €51.5 million, up from €48.8 million throughout the same period black diamond casino zynga cheats of 2016. Net revenue totaled €40.3 million, reflecting a growth from the quantity of €37.6 million generated an earlier year.
At the conclusion regarding the period that is reported OEG operated 4,100 slots, 108 electronic roulette terminals, and 167 gaming tables in its properties across European countries. It’s also essential to note that it ran 120 gambling enterprises and 31 wagering points by the conclusion of the 12 months’s very first quarter, down from 124 casinos and 33 betting points during the same amount of 2016.
OEG presently operates in its black diamond casino hack house country also in Latvia, Lithuania, Slovakia, Italy, and Malta. The company exited Poland and Belarus year that is last.
Might was a month that is eventful the Estonian operator in relation to its planned structure adjustment. The organization announced the conclusion of the merger black diamond casino usa 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 and UAB Orakulas solutions, hence isolating its technology black diamond casino columbus ohio platform and danger management tools from the activities that are operational.