The operator of the largest and most profitable casino in Poland just closed it. By mistake.
It’s not a bug, but a huge bug. This saying fits like a glove to the recent activities of Olympic Entertainment Group (OEG) one of the largest casino operators in our part of Europe, listed on the Warsaw Stock Exchange and the Tallinn Stock Exchange and valued at nearly 1.2 billion PLN. A few days ago OEG reported that in order to minimize the cost of “forced” to freeze the activities in Poland, which will cost up to EUR 1 million and will result in the loss of assets measured at accounting for 9-10 million.
Except that the findings “PB” that OEG forced himself to himself. OEG is employing more than 3,200 people operator of casinos in several countries, especially the Baltic states. In Poland, for some time, the group conducted only one base in Warsaw Hilton Hotel. Casino one thing, but the largest and most profitable in Poland. Suffice to say that although it was hardly one of the 125 caves gambling belonging to OEG, it gave the Estonian company more than 10 percent. income (in the first half of 2016. EUR 9.4 million from EUR 92 million). It gave, because September 23 ended his license and has been closed.
The bomb exploded two days earlier, at a meeting of the President of OEG Madis Jääger with investors, undisturbed expiring licensed and lack of information on this company. O wrote on the Estonian business newspaper “Äripäev” on what the boss reacted OEG report, which argued that the date of expiry of the license could be, among others, learn from … 2010 communication, for its grant.
Madis Jääger stressed that OEG is interested in the further presence on the Polish market, and that has not received a decision on the extension of the concession. Except that the Polish regulations for several years, there is no such procedure, as prolongation of the concession.
From the Editor:
The material presented in this article press release is not fully consistent with the reality, because it contains half-truths and distortions, which are the result of misinformation and lack of knowledge of the intricacies of the procedures and business knowledge of this specific sector of the gambling industry in Poland.
The current Board of both companies from the group of OEG in Poland in the person Slawomir Świtalski not fulfilled because the basic condition to obtain a license to operate casino games, namely not received Resolutions of the positive opinion of the localization of the City Council of Warsaw or the casino at the Hilton Hotel Street Grzybowska or casino the Hilton Double Tree Street Skalnicowej. Both locations received negative reviews, despite four applications from two different companies.
Such an opinion is necessary to seek to obtain a license. Indirect attempt to apportion blame previous management in the person of Cezary Gizka of oversight or forgetfulness is unfair and misrepresent reality.