Olympic Entertainment Group to Buy 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, that also owns provider of casino bar solutions OÜ Oma & Hea. OEG told news that the purpose of its latest acquisition is to boost its market share in Estonia.
Once the deal is completed, OEG will handle a total of 24 gambling facilities around the world. Presently, MC Kasiinod owns 4 slots casinos in Estonia and those feature as many as 160 slot machines. A year ago, the gambling operator created general income of €3 million and had about 65 people working during the 4 properties. The value that is nominal of MC Kasiinod's share money is just a bit more than €1 million. The parties that are involved maybe not reveal the transaction's reward.
The proposed acquisition has become at the mercy of approval that is regulatory. The Estonian Competition Authority will need to give the light that is green the sale to enable it to be finished in prompt way. OEG said that the 4 gambling enterprises which can be to be acquired will have to be brought into compliance aided by the business's quality requirements inside a 12 months after the conclusion for the deal. All four of them shall then be rebranded as Olympic Casino.
Just before purchasing MC Kasiinod, OEG's subsidiary Olympic Casino handled 20 casinos across Estonia. (mais…)