Olympic Entertainment Group to purchase Rival AS MC Kasiinod

rx onlinelineEntertainment 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 services OÜ Oma & Hea. OEG told media that the goal of its latest purchase is to boost its market share in Estonia.

After the deal is completed, OEG will manage a total of 24 gambling facilities around the world. Currently, MC Kasiinod has 4 slots casinos in Estonia and those feature as many as 160 slot machines. Last year, the gambling operator created general revenue of €3 million and had about 65 people working at the 4 properties. The value that is nominal of MC Kasiinod’s share capital is a bit more than €1 million. The parties that are involved not disclose the deal’s award.

The proposed acquisition is now subject to regulatory approval. The Estonian Competition Authority will have to give the green light to the sale in order for that it is finished in timely manner. OEG said that the 4 casinos being become acquired will have to be brought into conformity using the company’s quality criteria within a after the completion of the transaction year. All four of them shall then be rebranded as Olympic Casino.

Ahead of MC that is buying Kasiinod OEG’s subsidiary Olympic Casino managed 20 casinos across Estonia. Those featured 20 table games and 817 slots. Last year, the casino operator generated casino income of €32 million and had about 450 workers working during the venues. Continue reading Olympic Entertainment Group to purchase Rival AS MC Kasiinod