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Olympic Activity Group buying SIA Garkalns

Olympic Activity Group buying SIA Garkalns

Olympic Casino Latvia SIA, subsidiary of playing user Olympic activity Group while (OEG), announced that it can purchase a 100% risk in Latvian casino team SIA Garkalns and its particular part SIA Post-Nevada. Hence, Olympic Casino Latvia SIA would boost its existence in Latvia. After the transaction is finished, OEG as well as its Latvian part would have and run 57 betting business in the country.

Currently, Garkalns and Post-Nevada run as much as 20 casinos across Latvia. Ten of those are observed in the country’s funds Riga. All 20 sites feature all in all, 432 slot machines. This past year, the two agencies produced revenue of €6 million along with 245 staff members.

Presently, SIA Garkalns’ display capital amounts to a very little lower than €2 million. The activities asserted that they’d maybe not display the buying price of the purchase.

The transaction needs to be authorized by the Latvian opposition Council in order to be completed. OEG said that the newly obtained gambling enterprises are anticipated are introduced compliance together with the agent’s requirements within one calendar 12 months. The characteristics would next getting re-branded as Olympic Casino.

Prior to the statement about the exchange on the 20 Garkalns and Post-Nevada casinos, Olympic Casino ran a total of 37 gaming venues in Latvia. Those highlighted 19 games tables and 1,056 slots. OEG’s Latvia-based subsidiaries generated money of €48 million back in 2014 along with 679 workers. Overall, the people’s income amounted to €15...

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