Olympic Entertainment Group Winds Up Belarusian Subsidiary zynga black diamond casino free coins

Estonian gambling operator Olympic Entertainment Group (OEG) today announced so it has finalized the liquidation of Olympic Casino Bel internet protocol address black diamond casino 100, regarded as its Belarusian subsidiary.

The business explained in a short declaration on its website that the liquidation arrived included in the group’s work to modify its framework. OEG further remarked that the liquidation procedure will perhaps not influence its overall black diamond casino events economic activities.

The statement comes simply times after it became understood that the casino operator will have to close a number of its video black diamond casino review gaming venues into the historic center of Riga, the capital and biggest town of Latvia. All gambling halls in the area but few located in hotels will have to be shuttered within a five-year period under a newly introduced ban.

OEG said in a statement that seven of its venues, those being slots casinos, is closed as a result through the ban. It is still unknown when precisely the ban will likely be imposed, however the casinos similar to black diamond casino 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 remain intact while the prohibition does not protect its location. OEG stated so it doesn’t expect any negative financial effects to ensue black diamond casino ship west palm beach through the ban. The organization owns 54 gambling enterprises and video gaming halls across Latvia. These generated income of €66.2 million and operating revenue of €24.1 million in 2016.

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

At the end associated with period that is reported OEG operated 4,100 slots, 108 electronic roulette terminals, and 167 gaming tables in its properties across Europe. It’s also crucial to see it went 120 gambling enterprises and 31 betting points by the end of the year’s very first quarter, down from 124 gambling enterprises and black diamond casino slots 33 wagering points throughout the same amount of 2016.

OEG presently runs in its house country also in Latvia, Lithuania, Slovakia, Italy, and Malta. The organization exited Poland and Belarus black diamond casino vicksburg a year ago.

May has been an eventful month for the Estonian operator in relation to its planned framework modification. The business announced the completion of the merger of its subsidiaries that are italian S.r.l. and Jackpot Game S.r.l. After the merger’s closing, OEG will now run its Italian operations under the Slottery brand.

In Lithuania, OEG demerged its UAB Orakulas subsidiary into UAB Orakulas black diamond casino tips and UAB Orakulas solutions, hence breaking up its technology platform and risk management tools from the functional tasks.