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 like will purchase Estonian gambling business AS MC Kasiinod, which also has provider of casino bar services OÜ Oma & Hea. OEG told news that the purpose of its latest acquisition is to boost its share of the market in Estonia.
After the transaction is finished, OEG will manage an overall total of 24 gambling facilities across the country. Presently, MC Kasiinod has 4 slots gambling enterprises in Estonia and those feature as many as 160 slot machines. A year ago, the gambling operator produced overall revenue 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 a a bit more than €1 million. The parties that are involved not disclose the deal’s prize.
The proposed acquisition is currently at the mercy of regulatory approval. The Estonian Competition Authority will have to supply the green light to the purchase to ensure that that it is finished in prompt way. OEG said that the 4 casinos which can be to be acquired will need to be brought into conformity utilizing the business’s quality criteria within a 12 months after the conclusion for the deal. All four of those will then be rebranded as Olympic Casino.
Just before purchasing MC Kasiinod, OEG’s subsidiary Olympic Casino handled 20 casinos across Estonia. (more…)