Olympic Recreation Group to purchase SIA Garkalns

Olympic Recreation Group to purchase SIA Garkalns
Olympic Casino Latvia SIA, subsidiary of playing operator Olympic Entertainment Group while (OEG), established that it would buy 100% risk in Latvian casino organization SIA Garkalns as well as its subsidiary SIA Post-Nevada. Therefore, Olympic Casino Latvia SIA would build their existence in Latvia. As soon as the exchange is completed, OEG and its particular subsidiary that is latvian would and work 57 gaming facilities in the united kingdom.

Currently, Garkalns and Post-Nevada run as many as 20 gambling enterprises across Latvia. Ten of the are situated in the country's capital Riga. All 20 sites feature all in all, 432 slot machines. Just last year, the 2 businesses created profits of €6 million together with 245 workforce.

Presently, SIA Garkalns' share capital quantities to a little less than €2 million. The functions mentioned that they might not expose the price tag on the acquisition.

The deal has to be approved by the Latvian opposition Council to be done. Year OEG said that the newly acquired casinos are expected to be brought in compliance with the operator's standards within one calendar. The properties would next getting re-branded as Olympic Casino.

Ahead of the statement about the exchange from the 20 Garkalns and Post-Nevada casinos, Olympic Casino went all in all, 37 gaming venues in Latvia. Those included 19 games dining tables and 1,056 slot machines. OEG's Latvia-based subsidiaries generated revenue of €48 million back 2014 and had 679 staff.Read more