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Olympic Recreation Party purchasing SIA Garkalns

Olympic Recreation Party purchasing SIA Garkalns

Olympic Casino Latvia SIA, subsidiary of playing operator Olympic Entertainment Group like (OEG), established that it could buy a 100% risk in Latvian casino providers SIA Garkalns and its own part SIA Post-Nevada. Thus, Olympic Casino Latvia SIA would boost their position in Latvia. Once the purchase is done, OEG and its particular Latvian subsidiary would possess and work 57 gambling business in the nation.

Currently, Garkalns and Post-Nevada run as many as 20 gambling enterprises across Latvia. Ten of those are found in the country’s money Riga. All 20 spots feature a total of 432 slot machines. A year ago, the 2 organizations created sales of €6 million along with 245 staff members.

Currently, SIA Garkalns’ share capital amount on to a little less than €2 million. The people said that they would maybe not unveil the asking price of the acquisition.

The purchase has to be authorized by the Latvian Competition Council in order to be completed. Year OEG said that the newly acquired casinos are expected to be brought in compliance with the operator’s standards within one calendar. The qualities would then be re-branded as Olympic Casino.

Prior to the announcement regarding the exchange associated with 20 Garkalns and Post-Nevada gambling enterprises, Olympic Casino went a total of 37 gaming locations in Latvia. Those highlighted 19 video gaming tables and 1,056 slot machine games. OEG’s Latvia-based subsidiaries created sales of €48 million back in 2014 and had 679 workforce.