Olympic Entertainment Group Winds Up Belarusian Subsidiary

Estonian gambling black diamond casino ship west palm beach 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 explained in a quick statement on its internet site that the liquidation came as part of the team’s work to modify its framework. OEG further remarked that the liquidation procedure will maybe not impact its general economic activities.

The statement comes just days after it became understood that the casino operator will have to close several of its gaming zynga black diamond casino free coins venues into the historic center of Riga, the capital 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 casinos similar to black diamond casino period under a newly introduced ban.

OEG stated in a statement that seven of its venues, those slots that are black diamond casino promo codes being, will be closed as a result black diamond casino sister sites from the ban. It’s still unknown when exactly the ban will likely be imposed, however the casino operator pointed out 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 Latvian casino black diamond casino review, will remain intact while the prohibition doesn’t cover its location. OEG said that it does not expect any negative economic effects to ensue from the ban. The company owns 54 casinos and video gaming halls across Latvia. These generated income of €66.2 million and operating profit of €24.1 million in 2016.

OEG has recently posted black diamond casino slots its financial results for 1st quarter of the year, reporting income before taxes of €51.5 million, up from €48.8 million through the exact same amount of 2016. Web revenue totaled €40.3 million, reflecting an increase from the amount of &euro black diamond casino events;37.6 million produced a year previously.

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. Additionally it is crucial to note it went 120 gambling enterprises and 31 betting points by the conclusion of the 12 months’s very first quarter, down from 124 gambling enterprises and 33 gambling points throughout the same period of 2016.

OEG currently runs in its house nation black diamond casino mobile as well as in Latvia, Lithuania, Slovakia, Italy, and Malta. The organization exited Poland and Belarus a year ago.

May has been an eventful month for the Estonian operator with regards to its planned structure adjustment. The organization announced the black diamond casino vicksburg conclusion of the merger of its Italian subsidiaries Slottery S.r.l. and Jackpot Game S.r.l. Following the 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, hence isolating its technology platform and danger management black diamond casino tips tools from the functional activities.