Olympic Entertainment Group Winds Up Belarusian Subsidiary

Estonian gambling operator Olympic Entertainment Group (OEG) today announced that it has finalized the liquidation of Olympic Casino Bel internet protocol address, considered to be its Belarusian subsidiary.

The company explained in a quick declaration on its black diamond casino rising tide site that the liquidation arrived included in the group’s effort to regulate its framework. OEG further noticed that the liquidation process will perhaps not impact its general economic activities.

The announcement comes black diamond casino forum simply times after it became known that the casino operator will have to close a number of its gaming venues in the historic center of Riga, the capital and largest city of Latvia. Under a newly introduced ban, all gambling halls in the area but few situated in accommodations should be shuttered in just a five-year period.

OEG stated in a declaration that seven of its venues, those being slots casinos black diamond casino gmbh, is closed because of this from black diamond casino not working the ban. It is still unknown whenever precisely the ban will be imposed, nevertheless the casino operator pointed out that it won’t be before June 2022 when its properties based in Riga’s historical center will need to close doorways.

Olympic Voodoo Casino, considered to be the operator’s flagship casino that is latvian will continue to be intact once the prohibition does not protect its location. OEG said that it does not expect any negative black diamond online casino consequences that are financial ensue through the ban. The organization black diamond casino music has 54 gambling enterprises and gaming halls black diamond casino west palm beach across Latvia. These revenue that is created of million and operating profit of €24.1 million in 2016.

OEG has recently posted its financial outcomes for the very first quarter of the year, reporting income before taxes of €51.5 million, up from €48.8 million throughout the exact same amount of 2016. Web income totaled €40.3 million, showing a growth from the amount of €37.6 million generated a year earlier in the day.

At the end of the period that is reported black diamond casino contact number OEG operated 4,100 slot machines, 108 electronic roulette terminals, and 167 gaming tables in its properties across Europe. It is also essential to notice that it ran 120 gambling enterprises and 31 wagering points by the conclusion of the year’s first quarter, down from 124 gambling enterprises and 33 wagering points through the period that is same of.

OEG currently black diamond casino cripple creek colorado runs in its home nation as well as in Latvia, Lithuania, Slovakia, Italy, and Malta. The organization exited Poland and Belarus year that is last.

May was a month that black diamond casino phone number is eventful the Estonian operator in relation to its planned structure adjustment. The business announced the conclusion for the merger 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 Services, hence separating its technology platform and risk management black diamond casino riviera beach tools from its activities that are operational.