Olympic Entertainment Black Diamond Casino Group Winds Up Belarusian Subsidiary
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 IP, regarded as its Belarusian subsidiary.
The business explained in a statement black diamond casino cheats that is short its website that the liquidation came included in the group’s work to adjust its framework. OEG further remarked that the liquidation process will maybe not impact its general economic activities.
The announcement comes simply times after it became black diamond casino games understood that the casino operator will have to shut a number of its gaming venues into the historic black diamond casino promo code center of Riga, the main city and city that is largest of Latvia. Under a newly introduced ban, all gambling halls in the area but few situated in resorts must be shuttered inside a five-year duration.
OEG stated in a declaration that seven of its venues, those slots that are being, are closed as a result through black diamond casino bonus code the ban. It is still unknown whenever exactly the ban will likely be imposed, nevertheless the casino operator remarked that it will never be before 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 once the prohibition will not protect its location. OEG said that it doesn’t expect any negative consequences that black diamond casino promo codes are financial ensue from the ban. The business owns 54 casinos and video gaming halls across Latvia. These generated income of €66.2 million and operating revenue of €24.1 million in 2016.
OEG has recently posted its monetary outcomes black diamond casino login for initial quarter of the season, reporting income before taxes of €51.5 million, up from €48.8 million during the same amount of 2016. Net income totaled €40.3 million, reflecting a growth from the level of €37.6 million created a year earlier.
At the conclusion for the reported period, OEG operated 4,100 slot machines, 108 electronic roulette terminals, and 167 video gaming tables in its properties across Europe. It’s also important to note that it went black diamond casino 120 gambling enterprises and 31 betting points by the finish of the year’s very first quarter, down from 124 gambling enterprises and 33 gambling black diamond casino no deposit bonus points during the exact same amount of 2016.
OEG currently runs in its house nation also in Latvia, Lithuania, Slovakia, Italy, and Malta. The organization exited Poland and Belarus year that is last.
May happens to be a month that is eventful the Estonian operator in terms of its planned framework adjustment. The organization black diamond online casino announced the conclusion regarding the merger of its subsidiaries that are italian S.r.l. and Jackpot Game S.r.l. Following merger’s closing, OEG will now run its Italian operations under the Slottery brand.
In black diamond casino forum Lithuania, OEG demerged its UAB Orakulas subsidiary into UAB Orakulas and UAB Orakulas Services, thus isolating its technology platform and danger management tools black diamond casino free slots from the activities that are operational.