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Olympic Entertainment Group Black Diamond Casino Billings Winds Up Belarusian Subsidiary

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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 IP, known to be its Belarusian subsidiary.

The business black diamond casino billings mt explained in a statement that is short its web site that the liquidation arrived as part of the group’s work to modify its framework. OEG further noticed that the liquidation procedure will perhaps not affect its overall economic activities.

The black diamond casino cruise announcement comes just times after it became known that the casino operator will need to shut a number of its gaming venues into the black diamond casino support historical center of Riga, the main city and city that is largest of Latvia. Under a newly introduced ban, all gambling halls in your community but few positioned in resort hotels will have to be shuttered in just a five-year period.

OEG said in a declaration that seven of its venues, those slots that are being, will likely be closed as a result from the ban. It is still unknown whenever exactly the ban are imposed, but the casino black diamond casino guess the game october 2017 operator remarked that it won’t 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 black diamond casino dublin ohio Latvian casino, will continue to be intact as the prohibition does not cover its location. OEG stated so it doesn’t expect any negative monetary consequences to ensue from the ban. The business owns 54 casinos and video gaming halls across Latvia. These revenue that is created of million and operating profit of €24.1 million in 2016.

OEG has recently posted its financial outcomes black diamond casino free play for the initial quarter of the season, reporting revenue before taxes of €51.5 million, up from €48.8 million throughout the same period of 2016. Net income totaled €40.3 million, reflecting an increase through the amount of €37.6 million produced an earlier year.

At the conclusion of this reported period, OEG operated 4,100 slots, 108 electronic roulette terminals black diamond casino free spins, and 167 gaming tables in its properties across European countries. Additionally it is essential to note it went 120 black diamond casino gambleroad gambling enterprises and 31 wagering points by the end of the 12 months’s very first quarter, down from 124 casinos and 33 wagering points throughout the exact same amount of 2016.

OEG presently runs in its home country along with in Latvia, Lithuania, Slovakia, Italy, and Malta. The business exited Poland and Belarus last year.

May was an eventful thirty days for the Estonian operator in terms of its planned structure modification. The company announced black diamond casino slot the conclusion associated with merger of its subsidiaries that are italian S.r.l. and Jackpot Game S.r.l. Following merger’s closing, OEG will now run its black diamond casino games free Italian operations under the Slottery brand.

In Lithuania, OEG demerged its UAB Orakulas subsidiary into UAB Orakulas and UAB Orakulas Services, hence splitting its technology platform and danger management tools from its operational tasks.

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