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Olympic Entertainment Group to merge its Eastern European assets

Olympic Entertainment Group has today announced that it will merge its Eastern European assets following the publication of its end of year results.

The Tallinn listed gambling operator had undertaken a corporate review of operational assets in eight of its active markets; Estonia, Slovakia, Poland, Belarus, Latvia, Lithuania, Italy and Malta, deciding to merge their business subsidiaries in Estonia and Slovakia.

OEG’s Slovak subsidiaries of Olympic Casino Slovakia and Olympic F&B will now operate under the Olympic Casino Slovakia brand as an adjustment to its regional business structure.

Estonian casino operator AS MC Kasiinod assets, which OEG acquired in early March, are set to be merged under the core brand of Olympic Casino Eesti. OEG governance expects the acquired assets to be fully integrated within Olympic Casino Eesti operations by the end of 2016.

Declaring its full-year 2015 results, Olympic Entertainment Group reported that FY revenues were up by 10% to €166 million from 2014’s €151 million. The Estonian-based operator declared that FY net profits were up by 18% at €26 million from €21.5 million in 2014.

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