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Olympic Entertainment Black Diamond Casino Cripple Creek Colorado Group Winds Up Belarusian Subsidiary

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Nov

7

2019

Olympic Entertainment Group Winds Up Belarusian Subsidiary casinos similar to black diamond casino

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

The company explained in a statement that is short its internet site that the liquidation arrived as part of the group’s effort to modify its framework. OEG further remarked that the liquidation process will not affect its general economic activities.

The announcement comes simply days after it became understood black diamond casino vicksburg that the casino operator will need to close a number of its video gaming venues into the historic center of Riga, the capital and city that black diamond casino slots is largest of Latvia. Under a newly introduced ban, all real-money-casino.club gambling halls in your community but few based in resort hotels must be shuttered inside a five-year duration.

OEG stated in a statement that seven of its venues, those slots that are being, are going to be closed because of this from the ban. It is still black diamond casino sister sites unknown whenever exactly the ban will likely be imposed, nevertheless the casino operator pointed out that it will not be before June 2022 whenever its properties positioned in Riga’s historic center will have to shut doorways.

Olympic Voodoo Casino, known to be the operator’s flagship Latvian casino, will continue to be intact black diamond casino events because the prohibition doesn’t cover its location. OEG said that it doesn’t expect any negative consequences that are financial ensue through the ban. The organization owns 54 casinos and black diamond casino review gaming halls across Latvia. These generated revenue of €66.2 million and operating profit of €24.1 million in 2016.

OEG has recently posted its financial results for the very first quarter of the season, reporting income before fees of €51.5 million, up from €48.8 million during the exact same period of 2016. Web income totaled €40.3 million, reflecting an increase through the number of €37.6 million created an earlier year.

By the end of the reported period, OEG operated 4,100 slots, 108 electronic roulette terminals, and 167 video gaming black diamond casino mobile tables in its properties across Europe. It is also important to notice that it went 120 casinos black diamond casino ship west palm beach and 31 wagering points by the finish of this 12 months’s first quarter, down from 124 casinos and 33 gambling points through the same period of 2016.

OEG presently operates in its house nation along with in Latvia, Lithuania, Slovakia, Italy, and Malta. The business exited Poland zynga black diamond casino free coins and Belarus year that is last.

May happens to be an eventful month for the Estonian operator in terms of its planned framework modification. The business announced the conclusion of this 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 black diamond casino tips subsidiary into UAB Orakulas and UAB Orakulas solutions, thus splitting its technology platform and danger management tools from its activities that are operational.

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