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