Olympic Entertainment Group Winds Up Belarusian Subsidiary
Estonian gambling operator Olympic Entertainment Group (OEG) today announced it has finalized the liquidation of Olympic Casino Bel IP, regarded as its Belarusian subsidiary.
The company explained in a statement that is short black diamond casino 25 its website that the liquidation came within the group’s work to modify its structure. OEG further pointed out that the liquidation process will maybe not influence its general activities that are economic.
The statement comes just times after black diamond casino no internet connection it became understood that the casino operator will have to shut several of its gaming venues in the historic center of Riga, the capital and largest town of Latvia black diamond casino hotel. 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 said in a declaration that seven of its venues, those slots that are being, are closed as a result through the ban. It is still unknown whenever exactly the ban are imposed, however the casino operator remarked that it won’t be before June 2022 whenever its properties based in Riga’s historic center will have to close doors black diamond casino chest keys.
Olympic Voodoo Casino, regarded as the operator’s flagship Latvian casino, will stay black diamond casino events cincinnati oh intact while the prohibition will not cover its location. OEG stated it will not expect any negative financial effects to ensue through the ban. The organization owns 54 casinos and gaming halls across Latvia. These generated black diamond casino bonus codes 2017 income of €66.2 million and running revenue of €24.1 million in 2016.
OEG has recently posted its monetary results for initial quarter of the year, reporting revenue before taxes of €51.5 million, up from €48.8 million through the exact same period of 2016. Net income totaled black diamond casino bonus codes €40.3 million, showing a growth https://real-money-casino.club/black-diamond-online-casino/ from the number of €37.6 million generated a year earlier.
By the end associated with period that is reported OEG operated 4,100 slot machines, 108 electronic roulette terminals, and 167 video gaming tables in its properties across European countries. Additionally it is crucial to notice it ran 120 gambling enterprises and black diamond casino tucson 31 gambling points by the conclusion of this year’s very first quarter, down from 124 casinos and 33 wagering points during the period that is same of.
OEG currently runs in its house nation as well as in Latvia, Lithuania, Slovakia, Italy, and Malta. The company exited black diamond casino signup bonus Poland and Belarus year that is last.
May was an eventful month for the Estonian operator in relation to its planned framework modification. The business announced the conclusion associated with the merger of its subsidiaries that are italian S.r.l. and Jackpot Game S.r.l. Following 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 UAB Orakulas solutions, thus breaking up its technology platform and danger management tools black diamond casino no deposit bonus codes 2018 from its operational activities.