Olympic Entertainment Group Winds Up Belarusian Subsidiary Black Diamond Casino Boat West Palm Beach

Olympic Entertainment Group Winds Up Belarusian Subsidiary

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

The company black diamond casino reviews explained in a quick declaration on its web site that the liquidation came as part of the team’s effort to adjust its framework. OEG further noticed that the liquidation process will perhaps not influence its overall economic tasks.

The statement comes simply days after it became known that the casino operator will have to close many of its black diamond casino guess the game gaming venues into the historical center of Riga, the capital and biggest town of Latvia. All gambling halls in the area but few located in hotels will have black diamond casino bonus codes 2018 to be shuttered within a five-year period under a newly introduced ban.

OEG stated in a statement that seven of its venues, those slots that are being, is closed as a result through the ban. It is still black diamond casino codes unknown whenever exactly the ban are going to be imposed, but the casino operator pointed out that it won’t be before June 2022 when its properties based in Riga’s historic center will need to shut doorways.

Olympic Voodoo Casino, regarded as the operator’s flagship Latvian casino, will stay intact because the prohibition will not cover its location. OEG said it does not expect any negative consequences that black diamond casino app are financial ensue through the ban. The organization owns 54 gambling enterprises and black diamond casino music video gaming halls across Latvia. These slots black diamond casino generated revenue of €66.2 million and running revenue of €24.1 million in 2016.

OEG has recently posted its financial outcomes for the first quarter of the season, reporting revenue before taxes of €51.5 million, up from €48.8 million during the exact same amount of 2016. Web revenue totaled €40.3 million, showing a growth from the level of €37.6 million produced a year earlier.

By the end associated with period that is reported OEG operated install black diamond casino 4,100 slots, 108 electronic roulette terminals, and 167 video gaming tables in its properties across Europe. It’s also essential to note that it went 120 casinos and 31 betting points by the finish of the year’s very black diamond casino free chips first quarter, down from 124 casinos and 33 betting points during the exact same period of 2016.

OEG presently runs in its home country along with in Latvia, Lithuania, Slovakia, Italy, and black diamond casino coupons Malta. The organization exited Poland and Belarus this past year.

May is an eventful month for the Estonian operator in relation to its planned framework modification. The organization announced the conclusion of the merger of its Italian subsidiaries Slottery S.r.l. and Jackpot Game S.r.l. Following merger’s closing, 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 solutions, hence breaking up its technology platform and risk management tools from its operational black diamond casino codes 2017 activities.