Uncategorized__ Olympic Entertainment Group Winds Black Diamond Casino Group Up Belarusian Subsidiary
Olympic Entertainment Group Winds Up Belarusian Subsidiary
Estonian gambling operator Olympic Entertainment Group (OEG) announced black diamond casino no internet connection that it has finalized the liquidation of Olympic Casino Bel IP, known to be its Belarusian subsidiary today.
The business explained in a statement that is short its internet site that the liquidation arrived as part of the group's effort to adjust its structure. OEG further remarked that the black diamond casino chest keys liquidation process will not impact its general activities that are economic.
The statement comes simply times after it became understood that the casino operator will have to close a number of its video gaming black diamond casino signup bonus venues within the historic center of Riga, the administrative centre and largest city of Latvia. Under a newly introduced ban, all gambling halls in the area but few positioned in hotels must be shuttered within a five-year period.
OEG said in a statement that seven of its venues, those being slots casinos, will be closed because of this through black diamond casino hotel the ban. It is still unknown whenever precisely the ban is going to be imposed, nevertheless the casino operator pointed out that it will not 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 continue to be intact as the prohibition will not protect its location. OEG stated black diamond casino 25 that it does not expect any negative consequences that are financial ensue through the ban. The business has 54 casinos and gaming halls across Latvia. These generated income of €66.2 million and operating profit of €24.1 million in 2016.
OEG has recently posted its financial results for black diamond casino events cincinnati oh 1st quarter of the year, reporting revenue before fees of €51.5 million, up from €48.8 million during the exact same amount black diamond casino bonus codes of 2016. Web revenue totaled €40.3 million, reflecting an increase through the number of €37.6 million generated an earlier year.
At the end of the reported period, OEG operated 4,100 slots, 108 electronic roulette terminals, and 167 gaming tables in its properties across Europe. It is also crucial to see it ran 120 casinos 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 exact same amount of 2016.
OEG currently operates in its home nation also in Latvia, Lithuania black diamond casino bonus codes 2017, Slovakia, Italy, and Malta. The business exited Poland and Belarus year that is last.
May happens to be a month that is eventful the Estonian operator in relation to its planned framework modification. The organization black diamond casino tucson announced the completion for 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 operations that are italian the Slottery brand.
In Lithuania, OEG demerged its UAB Orakulas black diamond casino no deposit bonus codes 2018 subsidiary into UAB https://real-money-casino.club/black-diamond-online-casino/ Orakulas and UAB Orakulas Services, hence splitting its technology platform and risk management tools from the functional tasks.