Olympic Entertainment Group to Buy Rival AS MC Kasiinod

Olympic Entertainment Group to Buy Rival AS MC Kasiinod

Estonia-headquartered casino operator Olympic Entertainment Group (OEG) announced that its subsidiary Olympic Casino Eesti AS will purchase Estonian gambling company AS MC Kasiinod, which also owns provider of casino bar services OÜ Oma & Hea today. OEG told media that the goal of its latest acquisition is to improve its share of the market in Estonia.

When the deal is finished, OEG will handle an overall total of 24 gambling facilities in the united states. Presently, MC Kasiinod owns 4 slots casinos in Estonia and those function as many as 160 slots. This past year, the gambling operator generated revenue that is overall of million and had about 65 individuals working at the 4 properties. The nominal value of AS MC Kasiinod’s share capital is a a bit more than €1 million. The parties that are involved maybe not reveal the deal’s prize.

The proposed acquisition is now subject to approval that is regulatory. The Estonian Competition Authority will need to supply the green light to the sale to enable that it is completed in prompt way. OEG stated that the 4 casinos which are to be obtained will have to be brought into compliance because of the organization’s quality standards in just a after the completion of the transaction year. All four of those shall then be rebranded as Olympic Casino.

Prior to buying MC Kasiinod, OEG’s subsidiary Olympic Casino handled 20 gambling enterprises across Estonia. Those showcased 20 table games and 817 slot machines. Read More

Ladbrokes Names John Kelly Chairman of Board In Front of Coral Merger

Ladbrokes Names John Kelly Chairman of Board In Front of Coral Merger

UK-based wagering and gaming operator Ladbrokes plc announced the appointment of John Kelly as Chairman of the company’s Board today. Mr. Kelly has had the post straight away, after former Ladbrokes Chairman Peter Erskine stepped down from the position on December 3.

The gambling company additionally announced that Mark Pain has been appointed as Non-Executive Director and Chairman of its Audit Committee.

Previous Ladbrokes Chairman Peter Erskine made public his intentions to go out of the Board May 7, 2015. Because of the overwhelmingly positive shareholder vote for the proposed £2.3-billion merger with competing operator Coral Group, Mr. Erskine left the Board formally, handing the part to their successor. Mr. Kelly will also be Chairman of the combined entity Ladbrokes Coral Plc, provided that the merger gets the necessary regulatory approval.

Commenting on his new post, Mr. Kelly stated that he considers it a good honor become Chairman associated with the major gambling business, particularly at this kind of essential phase in its history. The state included that they will now proceed with the ‘aggressive natural plan’ introduced by CEO Jim Mullen and certainly will work hard towards the completion associated with the proposed merger.

Mr. Kelly additionally did not miss to acknowledge their predecessor’s perseverance to ‘steer the business through a much needed modernization’ and their assistance during the times when the organization was facing major challenges. Read More