Olympic Entertainment Group Winds Up Belarusian Subsidiary

Estonian gambling operator Olympic Entertainment Group (OEG) announced that it has finalized the liquidation of Olympic Casino black diamond casino vicksburg 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 as part of the team’s effort to modify its framework. OEG black diamond casino events further remarked that the liquidation process will maybe not affect its general economic tasks.

The statement comes just days after it became known that the casino operator will need to shut several of its gaming venues into the historic center of Riga, the administrative centre and biggest town 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 zynga black diamond casino free coins introduced ban.

OEG said in a declaration that seven of its venues, those slots that are being, will be closed black diamond casino slots because of this from the ban. It is still unknown whenever exactly the ban is going to be imposed, nevertheless the casino operator remarked that it will never be before June 2022 whenever its properties based in Riga’s historic center will have to close doorways.

Olympic Voodoo Casino, regarded as the operator’s flagship Latvian casino, will continue to be intact due to the fact prohibition does not protect its location. OEG stated it does not expect any negative economic consequences to ensue through the ban black diamond casino sister sites. The company has 54 gambling enterprises and video gaming halls across Latvia. These generated income casinos similar to black diamond casino of €66.2 million and running revenue of €24.1 million in 2016.

OEG has recently posted its financial results for 1st quarter of the season, reporting revenue before taxes of €51.5 million, up from €48.8 million throughout the exact same period of 2016. Net revenue totaled €40.3 million, showing an increase from the number of €37.6 million created an earlier year.

At the conclusion regarding the reported period, OEG operated 4,100 slots, 108 electronic roulette terminals, and black diamond casino ship west palm beach 167 gaming tables in its properties across European countries. It’s also crucial to note that it ran 120 casinos and 31 betting points by the finish with this year’s very first quarter, down black diamond casino mobile from 124 casinos and 33 betting points during the period that is same of.

OEG presently operates in its house country also in Latvia, Lithuania, Slovakia, Italy, and Malta. The company exited Poland and Belarus year that is last.

Might happens to be a month that is eventful the Estonian operator in terms of its planned structure modification. The organization announced the conclusion associated with the merger of its subsidiaries that are italian S.r.l. and black diamond casino review Jackpot Game S.r.l. After the merger’s closure, OEG will now run its Italian operations under the Slottery brand.

In Lithuania, OEG demerged its UAB Orakulas subsidiary into UAB Orakulas and https://real-money-casino.club/black-diamond-online-casino/ UAB Orakulas solutions, thus black diamond casino tips splitting its technology platform and danger management tools from its activities that are operational.