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, regarded as its Belarusian subsidiary.
The organization black diamond casino cheats explained in a statement that is short its web site that the liquidation arrived included in the team’s effort to modify its framework. OEG further noticed that the liquidation process will not affect its general activities that are economic.
The announcement comes just times after it became known that the casino operator will have to close a number black diamond casino promo codes of its gaming venues within the historic center of Riga, the main city and city that is largest of Latvia. All gambling halls in the area but few located in hotels will have to be shuttered within a five-year period under black diamond casino bonus code real-money-casino.club a newly introduced ban.
OEG said in a statement that seven of its venues, those slots that are being, are closed as a result through the ban. It is still unknown when exactly the ban are going to be imposed, however the casino operator remarked that it will not black diamond casino promo code be before 2022 when its properties located in Riga’s historical center will have to close doors june.
Olympic Voodoo Casino, considered to be the operator’s flagship casino that is latvian will continue to be intact because the prohibition does not protect its location. OEG stated it doesn’t expect any negative consequences that are financial ensue through the ban. The black diamond casino login company has 54 gambling enterprises and video gaming halls across Latvia. These revenue that is generated of million and operating profit of €24.1 million in 2016.
OEG has recently posted its financial results for 1st quarter of the season, reporting income before taxes of €51.5 million, up from &euro black diamond casino games;48.8 million throughout the same period of 2016. Net income totaled €40.3 million, showing an increase from the number of €37.6 million produced a year black diamond online casino earlier in the day.
By the end associated with the 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. It is also important to note it ran 120 gambling enterprises and 31 wagering points by the end of the black diamond casino no deposit bonus year’s first quarter, down from 124 casinos and 33 gambling points during the exact same amount of 2016.
OEG currently runs in its house country also in Latvia, Lithuania, Slovakia, Italy, and Malta. The company exited Poland and Belarus year that is last.
May happens to be an eventful month for the Estonian operator in terms of its planned framework adjustment. The business announced the conclusion associated with merger of its subsidiaries that are italian S.r.l. and black diamond casino Jackpot Game S.r.l. Following the merger’s closing, OEG will now run its operations that are italian the Slottery brand.
In Lithuania, OEG black diamond casino free slots demerged its UAB Orakulas subsidiary into UAB Orakulas and UAB Orakulas solutions, hence splitting its technology platform and risk management tools from the activities that are operational.