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 objective of its latest acquisition is to increase its share of the market in Estonia.
After the deal is finished, OEG will manage a complete of 24 gambling facilities across the country. Presently, MC Kasiinod owns 4 slots gambling enterprises in Estonia and those feature as much as 160 slots. Last year, the gambling operator created overall income of €3 million and had about 65 individuals working during the 4 properties. The value that is nominal of MC Kasiinod’s share money is really a a bit more than €1 million. The involved parties did maybe not disclose the deal’s reward.
The proposed acquisition happens to be at the mercy of approval that is regulatory. The Estonian Competition Authority will have to provide the green light to the purchase in order for that it is finished in timely way. OEG said that the 4 casinos which are become acquired will need to be brought into conformity utilizing the company’s quality requirements within a after the completion of the transaction year. All four of those will then be rebranded as Olympic Casino.
Just before MC that is buying Kasiinod OEG’s subsidiary Olympic Casino managed 20 gambling enterprises across Estonia. Read more