Olympic Entertainment Group to purchase Rival AS MC Kasiinod
Estonia-headquartered casino operator Olympic Entertainment Group (OEG) announced that its subsidiary Olympic Casino Eesti AS will purchase Estonian gambling company AS MC Kasiinod, which also owns provider of casino bar services OÜ Oma & Hea today. OEG told media that the goal of its latest purchase is to increase its share of the market in Estonia.
After the transaction is completed, OEG will handle a total of 24 gambling facilities around the world. Presently, MC Kasiinod has 4 slots gambling enterprises in Estonia and those function as much as 160 slot machines. Last year, the gambling operator created revenue that is overall of million and had about 65 people working at the 4 properties. The nominal value of AS MC Kasiinod’s share money is a a bit more than €1 million. The involved events did not disclose the deal’s prize.
The proposed acquisition happens to be susceptible to approval that is regulatory. The Estonian Competition Authority will have to supply the green light to the purchase to allow it to be finished in prompt way. OEG said that the 4 gambling enterprises which are become obtained will need to be brought into conformity using the company’s quality criteria inside a after the completion of the transaction year. All four of them shall then be rebranded as Olympic Casino.
Prior to purchasing MC Kasiinod, OEG’s subsidiary Olympic Casino handled 20 casinos across Estonia. Those showcased 20 table games and 817 slot machines.