Olympic Activities People to Buy SIA Garkalns

Olympic Activities People to Buy SIA Garkalns

Olympic Casino Latvia SIA, part of gambling user Olympic amusement Group AS (OEG), announced that it might buy 100% share in Latvian casino organization SIA Garkalns as well as its subsidiary SIA Post-Nevada. Hence, Olympic Casino Latvia SIA would increase its existence in Latvia. After the purchase is done, OEG and its own subsidiary that is latvian would and run 57 playing amenities in the nation.

Presently, Garkalns and Post-Nevada manage possibly 20 gambling enterprises across Latvia. Ten of these are found in the united states’s money Riga. All 20 spots feature a maximum of 432 slot machines. A year ago, the two providers generated sales of €6 million and had 245 staff.

Currently, SIA Garkalns’ display capital amounts on to a very little less than €2 million. The functions said that they would perhaps not expose the price of the purchase.

The exchange has to be approved by the Latvian opposition Council in order to be complete. Year OEG said that the newly acquired casinos are expected to be brought in compliance with the operator’s standards within one calendar. The land would be re-branded as then Olympic Casino.

Before the statement regarding the purchase with the 20 Garkalns and Post-Nevada casinos, Olympic Casino went a total of 37 playing sites in Latvia. Those featured 19 video gaming tables and 1,056 slot machine games. OEG’s Latvia-based subsidiaries created income of €48 million back 2014 and had 679 workforce. Read more