Olympic to merge assets

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Casino operator Olympic Entertainment Group has confirmed that it will merge its eastern European assets following the publication of its end-of-year results.

Undertaking a corporate review of operational assets in its eight active markets – Estonia, Slovakia, Poland, Belarus, Latvia, Lithuania, Italy and Malta – OEG announced that it would merge business subsidiaries in Estonia and Slovakia.

OEG’s Slovak subsidiaries of Olympic Casino Slovakia and Olympic F&B will now operate under the Olympic Casino Slovakia brand as an adjustment to its regional business structure.

Newly acquired Estonian casino operator AS MC Kasiinod’s assets (acquisition completed March 1, 2016) will be merged under core brand Olympic Casino Eesti. OEG expects the acquired asset to be fully integrated within Olympic Casino Eesti operations by the end of full-year 2016.

Declaring its full-year 2015 results, OEG reported revenues up 10 per cent to €166m from 2014’s €151m. The Estonian-based operator declared full-year net profit of €26m, up 18 per cent on 2014’s €21.5m.

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