Olympic Entertainment Group Winds Up Belarusian Subsidiary
Estonian gambling operator Olympic Entertainment Group (OEG) announced that it has finalized the liquidation of Olympic black diamond casino bonus codes Casino Bel IP, known to be its Belarusian subsidiary today.
The company explained in a brief statement on its website that the liquidation arrived within the team’s effort to modify its framework. OEG further pointed out that the black diamond casino events cincinnati oh liquidation procedure will perhaps not impact its general activities that are economic.
The announcement comes simply times after it became understood that the casino operator will have to close a number of its gaming venues into the historic center of Riga, the capital and city that is largest of Latvia. Under a newly introduced ban, all gambling halls in the region but few black diamond casino no internet connection located in accommodations will have to be shuttered inside a five-year period.
OEG said in a statement that seven of its venues, those being slots casinos, will likely be closed as a result from the ban. It’s still unknown whenever exactly the ban will likely be imposed, however the casino operator remarked that it will never be before 2022 when its properties located in Riga’s historical center will have to close black diamond casino tucson doors june.
Olympic Voodoo Casino, considered to be the operator’s flagship casino that is latvian will remain intact once the prohibition does not cover its location. OEG black diamond casino bonus codes 2017 said it doesn’t expect any negative economic effects to ensue from the ban. The business owns 54 gambling enterprises and gaming halls across Latvia. These generated revenue of €66.2 million and running revenue of €24.1 million in 2016.
OEG has recently posted its financial outcomes for the initial quarter of the season, reporting income before taxes of €51.5 million, up from €48.8 million throughout the black diamond casino hotel exact same black diamond casino 25 period of 2016. Net income totaled €40.3 million, showing a growth from the level of €37.6 million produced an earlier year.
At the end for the period that is reported OEG operated 4,100 slots, 108 electronic roulette terminals, and 167 video gaming tables in its properties across real-money-casino.club Europe. It’s also crucial to notice it ran 120 casinos and 31 gambling points by the conclusion with this year’s very first quarter, down from 124 casinos and 33 betting black diamond casino chest keys points throughout the exact same amount of 2016.
OEG currently operates in its home country along with in Latvia, Lithuania, Slovakia, Italy, and Malta. The business exited Poland and Belarus a year ago.
Might is an eventful month black diamond casino signup bonus for the Estonian operator with regards to its planned structure adjustment. The company announced the completion for the merger of its Italian subsidiaries Slottery S.r.l. and Jackpot Game S.r.l. Following merger’s closure, OEG will now run its Italian black diamond casino no deposit bonus codes 2018 operations under the Slottery brand.
In Lithuania, OEG demerged its UAB Orakulas subsidiary into UAB Orakulas and UAB Orakulas solutions, thus breaking up its technology platform and danger management tools from its functional tasks.