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 news that the purpose of its latest acquisition is to improve its market share in Estonia.

After the transaction is finished, OEG will manage an overall total of 24 gambling facilities in the united states. Currently, MC Kasiinod owns 4 slots casinos in Estonia and those feature as many as 160 slot machines. This past year, the gambling operator created overall income of €3 million and had about 65 individuals working during the 4 properties. The nominal value of AS MC Kasiinod’s share money is really a little more than €1 million. The involved parties did not reveal the transaction’s prize.

The proposed acquisition has become at the mercy of regulatory approval. The Estonian Competition Authority will have to give the green light to the sale in order for that it is finished in timely way. OEG said that the 4 casinos being to be acquired will have to be brought into compliance with the business’s quality criteria inside a after the completion of the transaction year. All four of them will then be rebranded as Olympic Casino.

Just before purchasing MC Kasiinod, OEG’s subsidiary Olympic Casino handled 20 gambling enterprises across Estonia. Those showcased 20 dining table games and 817 slots. Continue reading →