Olympic Entertainment Group to get Rival AS MC Kasiinod

Estonia-headquartered casino operator Olympic Entertainment Group (OEG) announced today that its subsidiary Olympic Casino Eesti AS will purchase Estonian gambling company AS MC Kasiinod, which also has provider of casino bar solutions OÜ Oma & Hea. OEG told media that the objective of its latest purchase is to boost its market share in Estonia.

After the transaction is completed, OEG will manage a complete of 24 gambling facilities in the united states. Presently, MC Kasiinod owns 4 slots casinos in Estonia and those feature as much as 160 slot machines. A year ago, the gambling operator produced revenue that is overall of million and had about 65 people working during the 4 properties. The value that is nominal of MC Kasiinod’s share money is just a a bit more than €1 million. The parties that are involved perhaps not disclose the transaction’s award.

The proposed acquisition has become susceptible to regulatory approval. The Estonian Competition Authority will need to supply the green light to the purchase in order for that it is completed in prompt manner. OEG stated that the 4 casinos which can be become acquired will have to be brought into compliance with all the business’s quality standards in just a 12 months following the conclusion of this transaction. All four of those shall then be rebranded as Olympic Casino.

Just before MC that is buying Kasiinod OEG’s subsidiary Olympic Casino handled 20 casinos across Estonia. Read more