Olympic Entertainment Group to purchase 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 business AS MC Kasiinod, that also has provider of casino bar services OÜ Oma & Hea. OEG told news that the objective of its latest acquisition is to boost its share of the market in Estonia.
Once the transaction is completed, OEG will manage an overall total of 24 gambling facilities in the united states. Currently, MC Kasiinod owns 4 slots casinos in Estonia and those feature as much 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 involved events did maybe not disclose the deal’s prize.
The proposed acquisition is currently susceptible to regulatory approval. The Estonian Competition Authority will have to provide the green light to the sale to allow that it is completed in prompt way. OEG said that the 4 casinos which are to be obtained will need to be brought into conformity with all the company’s quality criteria in just a year after the conclusion of the deal. All four of these shall then be rebranded as Olympic Casino.
Prior to buying MC Kasiinod, OEG’s subsidiary Olympic Casino handled 20 casinos across Estonia. Those featured 20 table games and 817 slot machines. Continue reading