Olympic Entertainment Group to purchase 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 news that the purpose of its latest acquisition is to improve its share of the market in Estonia.
When the deal is completed, OEG will manage a complete of 24 gambling facilities around the world. Presently, MC Kasiinod has 4 slots gambling enterprises in Estonia and those function as much as 160 slots. Last year, the gambling operator generated general revenue of €3 million and had about 65 individuals working at the 4 properties. The nominal value of AS MC Kasiinod’s share capital is a little more than €1 million. The parties that are involved not reveal the deal’s award.
The proposed acquisition is currently at the mercy of approval that is regulatory. The Estonian Competition Authority will need to supply the green light to the purchase in order for that it is finished in timely way. OEG said that the 4 casinos being become obtained will need to be brought into conformity because of the organization’s quality criteria within a after the completion of the transaction year. All four of them shall then be rebranded as Olympic Casino.
Prior to purchasing MC Kasiinod, OEG’s subsidiary Olympic Casino handled 20 gambling enterprises across Estonia. Read More