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Olympic Activity Party buying SIA Garkalns

Olympic Activity Party buying SIA Garkalns

Olympic Casino Latvia SIA, part of gambling user Olympic recreation Group AS (OEG), launched that it could buy a 100% stake in Latvian casino business SIA Garkalns as well as its part SIA Post-Nevada. Therefore, Olympic Casino Latvia SIA would boost its position in Latvia. The moment the exchange is done, OEG as well as its subsidiary that is latvian would and manage 57 gambling facilities in the country.

Presently, Garkalns and Post-Nevada operated as much as 20 gambling enterprises across Latvia. Ten of these are located in the united states’s funds Riga. All 20 sites feature a total of 432 slot machine games. This past year, the 2 companies created profits of €6 million together with 245 staff members.

Presently, SIA Garkalns’ show capital amounts up to a little less than €2 million. The people mentioned that they would maybe not expose the buying price of the acquisition.

The exchange needs to be authorized by the Latvian Competition Council to become complete. OEG mentioned that the newly acquired gambling enterprises are anticipated to get introduced conformity aided by the user’s guidelines within one calendar year. The characteristics would subsequently be re-branded as Olympic Casino.

Ahead of the announcement in regards to the exchange of the 20 Garkalns and Post-Nevada gambling enterprises, Olympic Casino ran all in all, 37 betting venues in Latvia. Those presented 19 gaming tables and 1,056 slot machines. OEG’s Latvia-based casinoland kontakt subsidiaries generated sales of €48 million back 2014 together with 679 workers.